*The new Act will enhance the implementation of the Higher Education Student Loans Scheme, by addressing challenges related to the management structure of the Nigerian Education Loans Fund, applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures

Isola Moses | 绿帽献妻

The Nigerian Senate Wednesday, March 20, 2024, in Abuja, FCT, passed the Student Loans Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.

绿帽献妻 reports the passage of the amended bill, which passed second reading, last week, followed the consideration of a report of the Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFUND), earlier presented by Sen. Mohammed Muntari, Chairman of the Committee, representing Katsina South, in Katsina State.

It is recalled that President Bola Ahmed Tinubu, in the past week, had written to the Senate and the House of Representatives, seeking the repeal of the Student Loans (Access to Higher Education) Bill, and to enact a new one.

The authorities disclosed new Act would enhance the implementation of the Higher Education Student Loans Scheme.

This will address challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.

The President reportedly sought the amendment after the Federal Government’s announcement of a temporary suspension of the commencement of the student loans system in the country.

The government noted the law was enacted to allow the Nigerian students in tertiary institutions of learning to access low-interest loans to complete their studies.

Besides the passage of the Student Loans Act 2024, the Upper Legislative Chamber also debated a motion, sponsored by Sen.Oluranti Adebule, Representing Lagos West on the need to tackle the challenge of out-of-school children in Nigeria.

Leading the debate, Sen. Adebule made a case for the need to cause a drastic reduction of the current number of out-of-school children.

This, according to the United Nations Educational, Scientific and Cultural Organisation (UNESCO) statistics, is pegged at 20 million.

Some other lawmakers, including Sen. Adams Oshiomhole, enjoined the Senate, to compel the appropriate agency to publish the percentage of out-of-school children in each state of the Federation.

The Senate is said to be particularly interested in finding out and exposing defaulting state governments, who through a misplacement of priorities, have continued to endanger the collective wellbeing of citizens via little or no investment in education of especially the young population.

The Senate, however, resolved to ask the Judiciary in all 36 states, to set up mobile courts for the enforcement of the Universal Basic Education (UBE) Act in the sub-nationals.

The Senators as well mandated its Committee on Education to engage with the Federal Ministry of Education on the issue of out-of-school children, in order to reduce the numbers, and set a time limit of two years for the implementation of the UBE Act across Nigeria.

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