The Federal Government of Nigeria has announced the indefinite postponement of the launch of the Nigerian Students Loan Scheme. This decision was conveyed by Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), in an interview with ARISE NEWS, which was monitored by BusinessDay.

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Initially slated to commence on Thursday, the launch of the loan scheme has been deferred once again. Sawyer cited the need for corrections and alignment among stakeholders before the scheme’s rollout, emphasizing the importance of ensuring a comprehensive, meaningful, and sustainable implementation.

The bill for the Nigerian Students Loan Scheme, sponsored by former Speaker of the House of Representatives, Femi Gbajabiamila, was originally scheduled to begin between September and October 2023. However, President Tinubu announced a revised start date of January 2024 after the government failed to meet the initial deadline.

The Special Adviser to the President on Media and Publicity, Mr. Ajuri Ngelale, had previously indicated that President Bola Tinubu would launch the Student Loan Scheme on Thursday, March 14, 2024, during TVC’s ‘Politics on Sunday’. However, with the recent postponement, a new date for the launch remains uncertain.

The delay in the implementation of the Nigerian Students Loan Scheme underscores the complexities involved in its execution and the necessity for thorough preparation to ensure its success.