President Bola Tinubu has expressed his satisfaction after signing the students’ loan bill into law on Monday in Abuja.
Taking to his Twitter account, President Tinubu shared a brief statement, highlighting that the bill ensures equal access to affordable and quality education for deserving students, regardless of their financial background.
News About Nigeria gathered that he emphasized his pleasure in signing the bill into law, marking a significant step forward in educational opportunities.
“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.
However, the chairperson of the Federal University of Technology, Minna chapter of the Academic Staff Union of Universities (ASUU), Prof Gbolahan Bolarin, has criticized the students’ loan bill that was signed into law by President Bola Tinubu.
Prof Bolarin argues that the law is not practical, as it fails to consider the unique circumstances and challenges in Nigeria.
According to Prof Bolarin, the issue with such initiatives in Nigeria is the tendency to replicate models from other countries without considering the local context.
He expressed concerns about the repayment feasibility for students who obtain the loans, citing the high unemployment rate among graduates and the inadequate minimum wage as contributing factors.
ASUU, of which Prof Bolarin is a member, has been opposed to the bill from the outset.
The union maintains that the scheme is not sustainable and lacks feasibility, deeming it “dead on arrival.”
