Issues with Tinubu’s education loan scheme, By Jideofor Adibe

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Issues with Tinubu’s education loan scheme, By Jideofor Adibe
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Tinubu’s first three weeks in office have been packed with actions – fuel subsidy was removed on his inauguration, some aides have been appointed, the Naira has been floated and a Bill establishing an education loan scheme has been signed – among others. Though the actions so far have been mostly policy pronouncements that are […]

Tinubu’s first three weeks in office have been packed with actions – fuel subsidy was removed on his inauguration, some aides have been appointed, the Naira has been floated and a Bill establishing an education loan scheme has been signed – among others.

The bill was first introduced in 2016 by Femi Gbajabiamila, the immediate past Speaker of the House of Representatives and President Tinubu’s protégé and Chief of Staff. It was reintroduced in 2019 and received more attention from the National Assembly in November 2022 following an eight-month industrial action by the Academic Staff Union of Universities .

Again, the fact that the loans are interest free and the sources of the funding , Nigeria Immigration Service and Nigerian Customs Service ; education bonds, Another criterion is that applicants must provide at least two guarantors, each of whom must either be a civil servant on at least level 12, or a lawyer with at least 10 years’ post-call experience, or a judicial officer, or a justice of peace.

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