Except there are last-minute changes warranting a further delay, the anticipation is that President Bola Tinubu in three days will launch the historic National Student Loan Programme, a close media aide has confirmed.

According to Ajuri Ngelale on a TVC Politics programme on Sunday, as soon as the time reads Thursday, 14 March, the President will be keeping to a word that preceded his presidency, and that is to introduce an initiative that directs relief to the undergrads who cannot shield themselves from the pressure of a low-performing economy they are stuck with.

Every day that the Nigerian Naira weakens against the US Dollars worsens the heart-wrenching situation their parents deal with when trying to purchase basic commodities, or when the circumstance involves paying their children or ward’s schooling fees.

Sorting this out was part of what the topic focused on when Ngelale commented on the day programme, which centred on measuring the output of President Tinubu’s reforms and programmes.

Later this week, on Thursday, says the media aide, the President will launch the historic National Student Loan Programme. This is a major form of obligation reduction for Nigerians and families and young people at a time when Nigerians are feeling the pinch. We believe this is the way to go.

It is all in line with keeping up with the Access to Higher Education Act, 2023, which gained Presidential assent on 12 June 2023. That birthed the Nigerian Education Loan Fund, which would administer loan access and recoveries.

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A sum of N50 billion has been set for the pilot of the programme, which is generally open to those who can confirm their participation in a relevant course they are running at a federal or state-funded university, polytechnic, college of education or vocational school.

There had been three noticeable shifts in the dates previously posted with regards to starting the students-targeted credit initiative. The last postponement was in late February.

Since those who would be onboarded to the programme have to apply for any loan product through a computerised service, it is thought that officials are busy working out one that can accommodate the traffic brought forth by the millions that might apply.

𝗦𝘁𝘂𝗱𝗲𝗻𝘁 𝗟𝗼𝗮𝗻 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻: 𝗣𝗿𝗲𝘀𝗶𝗱𝗲𝗻𝘁 𝗕𝗼𝗹𝗮 𝗧𝗶𝗻𝘂𝗯𝘂 𝗿𝗲𝗰𝗲𝗶𝘃𝗲𝘀 𝘁𝗲𝗰𝗵𝗻𝗶𝗰𝗮𝗹 𝗯𝗿𝗶𝗲𝗳𝗶𝗻𝗴#PhotoNews #AsoVillaToday pic.twitter.com/l16AA4j585

— Presidency Nigeria (@NGRPresident) January 22, 2024

While the final tweaks are being made, there are voices outside Nigeria seeking their inclusion in the student loan scheme.

Tunmise Ajiboye who represents a small size of Nigerians studying abroad but also living in West Yorkshire, United Kingdom on Saturday met with the acting Nigerian High Commissioner to the United Kingdom, Cyprian Heen.

Mr Ajibode’s community in a statement of their advocacy the following day had said that they were not just gathering as individuals seeking education and economic breakthroughs but as a collective voice demanding support and recognition from our government back home.

Ayodele Johnson

Ayodelé is a Lagos-based journalist and the Content and Editorial Coordinator at Meiza. All around the megacity, I am steering diverse lifestyle magazine audiences with ingenious hacks and insights that spur fast, informed decisions in their busy lives.