It is anticipated that an education bank will be established as a result of the Student Loan Bill, which President Bola Tinubu recently signed into law.
At the Presidential Villa in Abuja, President Tinubu signed the legislation on Monday.
Recall that the national legislature approved the measure in November 2022, which aims to give loans with no interest to needy Nigerian students.
Former House of Representatives speaker Femi Gbajabiamila served as the bill's sponsor.
Also remember that Tinubu had pledged to provide student loans during one of his campaigns in an effort to expand the educational sector and increase the capabilities of young people.
Tinubu made the promise at the British Royal Institute in London
“Youths are the greatest asset of tomorrow,†Tinubu said in Chatham House while fielding questions from participants at the event, adding that they will be part of his “all-inclusive†government, pointing to the Lagos State Governor Babajide Sanwo-Olu.
“The education system is to change. We would overhaul it and tinker with some areas with the philosophy that no one would be left behind. There will be student loans for all. We are going to reform the Almajiri system. We are equally going to build more schools, recruit more teachers and train them,†the former Lagos state governor said.
He claimed that, if elected, his government would also establish technological hubs where young people could learn digital skills to better hone their leadership abilities.
"Youths can even develop technological languages on their own and make a better 21st-century approach to governance in Nigeria,†he said.