President Bola Tinubu made a significant announcement on Monday, confirming that the Student Loan Scheme, which he authorized on June 12, 2023, will officially commence in January 2024. In addition, he expressed a commitment to put an end to the recurring issue of industrial action by academic staff unions in tertiary institutions.
During the opening of the 29th session of the annual Nigeria Economic Summit at Transcorp Hilton, Abuja, President Tinubu conveyed his vision for the educational and economic future of the nation. He declared, “By January 2024, the new Student Loan Programme will be launched. We are determined to ensure that the disruptions caused by academic staff strikes become a thing of the past.”
The Nigeria Economic Summit is organized by the non-profit think-tank, the Nigerian Economic Summit Group. President Tinubu took the opportunity to express his appreciation to his team and colleagues for their efforts in developing this crucial program.
He emphasized the importance of addressing economic challenges, stating, “We cannot effectively combat corruption when citizens are struggling to secure funds for basic needs, such as purchasing a car or attaining homeownership due to a lack of accessible mortgage options.”
These declarations come on the heels of President Tinubu’s recent approval of a partial waiver of the “No Work, No Pay” Order, which had been imposed on members of the Academic Staff Union of Universities. The union had embarked on an eight-month strike starting on February 14, 2022, which ultimately concluded on October 17, 2022.
