As part of an effort to ease the impact of the removal of fuel subsidy, President Bola Tinubu on Monday approved the removal of all restrictions on accessing the controversial student loan.
The president also approved the provision of buses to the student bodies of all universities, polytechnics and colleges of education across the country.
The president in a statement issued by his spokesperson Dele Alake, said the efforts are aimed at ensuring that students don’t abandon their educational pursuits as a result of lack of money and economic circumstances of their parents.
“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 desire of the president is to see that students can access their campuses without much difficulty as a result of higher transportation costs.
“The provision of the buses will also remove the burden of additional cost of daily commuting on parents and guardians.”
“In line with his promise to ensure no Nigerian student abandons his or her educational pursuits as a result of lack of money and economic circumstances of their parents, President Tinubu has also approved the removal of all restrictions on the students’ loan to make it available to any student or household that may desire it.” The President said.
According to the statement, the president also directed authorities in all Federal Institutions of higher learning to avoid arbitrary increases in sundry fees.
This, he explained would avoid parents and students facing too many difficulties.
“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 release of over 200,000 Metric Tonnes of grains to families in 36 states and 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 prioritise education and the needs of the students, improve welfare of teaching and non-academic staff and invest in infrastructure to make our institutions of higher learning become more globally competitive.
President Bola Tinubu signed into law a bill last month that grants interest-free education loans to Nigerians seeking university education.
The bill was widely condemned, with many claiming that the country was unprepared and that the consequences would cause untold hardship amongst many Nigerians.