Why I Signed Students Loan Bill Into Law – Tinubu

President Bola Tinubu has spoken after signing the students’ loan bill into law on Monday in Abuja.

Speaking via a short note released on his Twitter account, President Tinubu revealed that with the signing of the bill, there is a guarantee that every deserving student has access to affordable and quality education, irrespective of their financial background.

The President also said he was pleased to have signed the bill into law.

“I was pleased, today, to have signed into law, the Access to Higher Education Act which provides interest-free loans to deserving students across the country who wish to further their education in tertiary institutions.

“With this Act we shall ensure that every deserving student has access to affordable and quality education, irrespective of their financial background,” he wrote.

Dead On Arrival

The chairperson of the Federal University of Technology, Minna chapter of the Academic Staff Union of Universities (ASUU), Prof Gbolahan Bolarin has condemned the students loan bill signed into law on Monday by President Bola Tinubu.

The academic don was of the opinion that the law is not feasible as the peculiarities of Nigeria were not considered before signing the bill into law.

According to him the problem with Nigeria and such initiatives is that the leadership wants to replicate what they see in some other countries without giving any consideration to what is obtainable in Nigeria.

He lamented that it may be difficult for students who obtain the loan to pay back due to the high unemployment rate among graduates as well as the abysmal minimum wage.

Prof. Bolarin revealed that ASUU stood against the bill from the beginning because the scheme is not feasible nor sustainable and is therefore “dead on arrival.”