By Milcah Tanimu

In a recent press briefing, Hon. Gboyega Isiaka, Chairman of the House Committee on Student Loans, reassured Nigerians of the government’s commitment to adequately fund student loans for those studying in public tertiary institutions nationwide.

Isiaka outlined plans to source the necessary funds for the loan program, emphasizing that one percent of all revenues received into the Federation Account would be allocated for this purpose.

The decision to amend the initial Student Loan Act aimed to streamline the loan process and eliminate barriers hindering Nigerian students from accessing financial assistance for their education.

According to Isiaka, these amendments address various shortcomings in the previous law, particularly in funding mechanisms. The establishment of the Nigerian Education Trust Fund now ensures a sustainable and robust institution capable of meeting the educational needs of students across the country.

Expressing satisfaction with these legislative efforts, Isiaka commended President Bola Ahmed Tinubu’s administration for prioritizing the educational sector. He urged swift action in appointing the management team of the National Education Trust Fund to commence operations promptly, benefiting millions of Nigerian students.