Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, on Friday commended President Bola Ahmed Tinubu for expeditiously assenting to the Students’ Loans (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024.
The repealed Student Loan Act, 2023, had some defects concerning governance and management, the purpose of the loans, eligibility criteria for applicants, application methods, repayment provisions, and loan recovery.
Ultimately, the amended act, signed into law by President Tinubu on Wednesday, April 3, 2024, seeks to guarantee sustainable higher education and functional skill development for all Nigerian students and youths.
In a statement by his Chief Press Secretary, Mr Levinus Nwabughiogu, the Deputy Speaker applauded the President for taking necessary action.
He stated that this legislation stems from a conscious effort of the National Assembly to expand access to higher education, recognizing that “In Nigeria, we are acutely aware of the challenges that young people face regarding access to quality education.”
The Deputy Speaker noted that the act now serves as a beacon of hope for countless young Nigerians who previously had limited or no access to university education due to their economic circumstances.
Hon. Kalu expressed that the law will open doors to new possibilities and empower individuals to contribute meaningfully to our nation’s development.
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Representing the Bende federal constituency of Abia State, the Deputy Speaker emphasized that by signing the bill into law, both President Tinubu and the National Assembly have collectively prioritized inclusivity and equity in higher education to unleash the full potential of the youth and cultivate a generation of leaders equipped to address the multifaceted challenges facing the country.
Highlighting that the law addresses the yearnings of a teeming Nigerian youth for education, Hon. Kalu commended the President for incorporating it into the Renewed Hope agenda of his administration.
The Deputy Speaker therefore urged students and youths to take advantage of the law and pursue their university education to help secure a brighter future and contribute to the development of Nigerian society.
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