The Federal Government has postponed the launch of the Nigerian Students Loan Scheme indefinitely.

This was revealed by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer,  during an interview with reporters.

Barely 48 hours before the launch, Sawyer said the loan scheme was postponed due to some corrections that were being made around the launch.

He said; “Unfortunately, I won’t be able to commit to a specific date. We are sort of waiting to ensure that all the stakeholders are aligned to make sure that nobody is blindsided, then we can roll this out in a meaningful, comprehensive, wholesome and sustainable way.” 

In June 2023, President Bola Tinubu signed a bill to start a Students Loan Fund that would give interest-free loans to Nigerians for higher education.

A former Speaker of the House of Representatives, Femi Gbajabiamila, proposed the bill and it was supposed to start between September and October 2023.