CurrentReport Blog In a national broadcast on Sunday addressing the ongoing nationwide protest, President Bola Tinubu urged Nigerian youths to actively engage with the student loan scheme introduced by his administration. This appeal underscores the government’s commitment to supporting education and empowering the younger generation.
The President highlighted the substantial progress made since the scheme’s inception. “To date, N45.6 billion has already been processed for payment to students and their respective institutions. I encourage more of our vibrant youth population to take advantage of this opportunity,” he stated.
Commitment to Education and Poverty Alleviation
The student loan scheme, inaugurated on July 17, is a significant component of President Tinubu’s strategy to combat poverty and promote inclusiveness. During the inauguration, he emphasized the scheme’s alignment with his administration’s commitment to building a more inclusive society. “Democracy is all about inclusiveness. Our target is to build a society on successful inclusiveness,” the President remarked.
President Tinubu reiterated that education is a powerful tool against poverty and crucial for vision, development, and addressing security challenges such as terrorism and banditry. By investing in education, the administration aims to equip the youth with the knowledge and skills necessary for Nigeria’s growth and stability.
Financial Support and Accessibility
As a demonstration of this commitment, the President presented cheques to students from each of Nigeria’s six geo-political zones. Currently, about N32 billion is available for disbursement, marking a significant investment in the nation’s educational infrastructure.
Since the application portal opened on May 25, the response has been overwhelming, with 164,000 students registering and 103,000 applying for loans. The initiative, which became law on April 3, 2024, under the Student Loans (Access to Higher Education) Act, aims to empower Nigerian youths by providing fair and transparent funding options, thereby removing financial barriers to higher education.
Encouraging Youth Participation
The President’s call to action is clear: Nigerian youths should seize this opportunity to advance their education and contribute to the nation’s development. By participating in the student loan scheme, students can secure the financial support needed to pursue higher education, which is essential for personal growth and national progress.
