Lawmaker Assures Adequate Funding of Student Loan

Chairman of the House Committee on Student's Loans, Hon. Gboyega Isiaka, has assured Nigerians of the present administration's resolve towards ensuring adequate funding of the loans for the benefits of Nigerians studying in public-owned tertiary institutions across the country.

Isiaka, while briefing the press in Abuja, disclosed that the quantum of funds required for successful implementation of the loans woulld be drawn from one per cent of all revenues accruing into the Federation Account.

He explained that the repeal of the initial Student Loan Act was necessitated with a view to removing all the encumbrances that could deprive a lot of Nigerian Students from accessing the Loan.

"The patriotism and determination to make sure that this is a sustainable success still made the Executive and Mr. President in particular to present those far-reaching amendments which has not become law.

“The law has amended so many shortcomings in the 2023 law in the area of fund that we have. Now we have a known corporate entity that is called Nigerian Education Trust Fund.

“We now have an institution that is strong, sustainable and comparable to what we have in different parts of the world and going by all that will come into it.

"I am satisfied in my mind that the Nigerian government under President Bola Ahmed Tinubu has done so well for the Nigerian educational sector. The Executive will expedite action on the setting up of the management team of the Institution without further delay.

“The management of the National Education Trust Fund when constituted will be given a marching order to commence work in earnest for the benefit of millions of Nigerian Students."