The Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, has been successfully passed by the Nigerian Senate.
The bill underwent rigorous scrutiny during Senate deliberations, with particular attention given to the report presented by Senator Muntari Dandutse, Chairman of the Senate Committee on Tertiary Institutions and TETFUND.
President Bola Tinubu’s transmission of the bill to the National Assembly paved the way for its consideration and eventual passage.
Recognizing the urgency of the matter, the Senate expedited the process by suspending relevant sections of its standing rules and referring the bill to the Committee of the Whole for thorough examination.
Following extensive debates, Senate President Godswill Akpabio entrusted the bill to the Senate Committee on Tertiary Institutions and TETFUND for further legislative refinement. The committee has been tasked with conducting a comprehensive analysis and reporting back within one week.
At its core, the bill aims to revolutionize access to higher education for financially disadvantaged Nigerians by establishing the Nigerian Education Loan Fund.
This fund will provide interest-free loans, facilitating educational opportunities for all citizens and fostering national development through enhanced human capital.
