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President Bola Ahmed Tinubu has directed that the brand new Pupil Mortgage Scheme he signed into regulation earlier within the 12 months ought to take off absolutely in Nigeria by January 2024.
Tinubu stated this in Abuja on Monday on the twenty ninth Nigeria Financial Summit, organised by the Nigerian Financial Summit Group (NESG) in partnership with the Federal Ministry of Finances and Financial Planning.
On the occasion, Tinubu additional assured Nigerians that government-owned tertiary establishments within the nation would now not go on strike.
“Nigerians are feeling the short-term destructive affect of our reforms, however we promise that everybody will quickly take pleasure in the advantages,” the president stated.
On June 12, 2023, Tinubu signed into regulation the coed mortgage invoice in achievement of a promise he made throughout his marketing campaign.
The previous spokesperson to the Federal Authorities (FG), Dele Alake, whereas making the announcement, stated the funds might be domiciled within the Ministry of Training and can solely be accessed by indigent college students of tertiary establishments.
The regulation is to supply quick access to larger schooling for indigent Nigerians by interest-free loans from the Nigerian Training Mortgage Fund.
Tinubu at considered one of his campaigns on the British Royal Institute in London, promised to offer pupil loans as a part of efforts to develop the schooling sector and likewise construct the youth capability.
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