President Bola Tinubu’s Chief of Staff, Femi Gbajabiamila, announced that the Students’ Loan Application system is being designed to eliminate direct interaction between loan administrators and beneficiaries.
Gbajabiamila stated that efforts are being made to launch the scheme in January 2024, allowing Nigerian students to access loans for their educational pursuits.
He delivered this message during a lecture titled “Empowering Nigerian Youths in the Present Day Economy” at the 35th convocation ceremony of Yaba College of Technology (YABATECH) in Lagos on Friday.
Gbajabiamila said that to make the process seamless, “applicants will apply online, be verified online and credited based on the verifiable documents and credentials they submitted.”
He said, “Nobody will need to know anybody to qualify for these loans so that access to this financing will be genuinely egalitarian.”
Tinubu recently signed the Student Loan Bill into law.
Following the signing of the bill, the President assured that no student would be forced to leave college because they couldn’t afford to pay their fees. Tinubu also stated that his administration would make sure that educational institutions receive the required resources to fulfill their responsibilities.
