President Bola Tinubu has approved the removal of all restrictions on the Students Loan which states that the applicant’s income or family income must be less than N500,000 per annum, to make it available and accessible to any student or household that desires it just a month after its signing into law.
A statement by Dele Alake, the Special Adviser to the President on Special Duties, Communications & Strategy on Monday revealed that President Tinubu will also remove the burden of the additional cost of daily commuting on parents and guardians by providing buses to commute students whom he earlier directed to provide at least two guarantors, each of whom must either be a civil servant of at least level 12, a lawyer with at least 10 years post-call experience, or a judicial officer, or a justice of the peace in seeking the loan.
Mr. Tinubu who announced fuel subsidy removal in his inauguration speech which hiked the prices of fuel and increased hardship on citizens, directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increases in sundry fees payable, and where possible defer further increases, so that parents and students don’t face too many difficulties.
The press release entitled, FG READY TO PROVIDE BUSES FOR HIGHER EDUCATION STUDENTS, REMOVES RESTRICTIONS ON STUDENTS’ LOANS, reads;
In furtherance of his desire to ease the burden of the fuel subsidy removal on students of higher institutions of learning, President Bola Tinubu has approved the provision of buses to the students’ bodies of all universities, polytechnics, and colleges of education across the country.
The President desires to see that students can access their campuses without much difficulty as a result of higher transportation costs.
In line with his promise to ensure no Nigerian student abandons his or her educational pursuits as a result of lack of money in the economic circumstances of their parents, President Tinubu has also approved the removal of all restrictions on the studentsloansan to make it available to any student or household that may desire it.
Similarly, President Tinubu has directed the authorities in all Federal Institutions of higher learning to avoid arbitrary increase in sundry fees payable and where possible defer further increase so that parents and students don’t face too many difficulties.
While it is important to reiterate that President Tinubu has directed the release of over 200,000 Metric Tonnes of grains to families in 36 states and the Federal Capital Territory, Abuja, the government is working to ensure that vulnerable students can also benefit from conditional cash transfers and food distribution.
The Federal Government salutes the courage, wisdom, and partnership of Nigerian Students as our country navigates this challenging time.
President Tinubu will continue to prioritize education and the needs of the students, improve the welfare of teaching and non-academic staff, and invest in infrastructure to make our institutions of higher learning more globally competitive.
