The Permanent Secretary, Federal Ministry of Education, David Adejo, disclosed this in Abuja on Wednesday while addressing newsmen on the bill signed by President Bola Tinubu.
The President had on Monday signed into law the Student Loan Bill in fulfillment of a promise he made during his campaign.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to CanadaThe student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, provides for interest-free loans to indigent Nigerian students.
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The loan, he said, covers the loan students in private and public schools.
He said that Mr. Tinubu had also approved a committee made up of ministries and agencies to see to the fruition of the loan scheme.JAMB Result
According to him, the bill is to make sure that every Nigerian has access to higher education through what we called the Higher Education Nigerian Bank.
“Learning from past mistakes, the bank is not going to be the type that will sit down and be collecting application loans.
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”It will also perform normal banking functions and make sure loans are given because we had cases of loan recovery in the past.
“The Act as it is tells us the process, but as I speak with you today, the president has approved the committee made up of the ministries and agencies and their meeting will be coming up on June 20.
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Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada“The president has also directed that by September to October this 2023/2024 academic session, he wants to see recipients of these loans. So it is a very serious march for us so between now and then we have to phantom the process for people to get the loan,” he said.NYSC Portal
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