President Bola Tinubu has signed the Student Loans, Access to Higher Education Repeal and Re-enactment Bill 2024 into law.

The President while signing the bill, commended the National Assembly for accelerated passage of the bill.

“We are determined to ensure that education is given the proper attention necessary for the country, including skills development programmes.

“This is to ensure that no one, no matter how poor their background is, is excluded from quality education and opportunity to build their future.

“We are here because we are all educated and were helped.

“In the past, we have seen a lot of our children drop out of colleges and given up the opportunity.

“That is no more; the standard and the control is there for you to apply no matter who you are, as long as you are a Nigerian citizen”, he said.

The signing of the bill was witnessed by President of the Senate, Godswill Akpabio, Deputy President of the Senate, Jibrin Barau, Minister of State for Youth Development, Ayodele Olawande among others.

The new law replaces the previous Student Loan (Access to Higher Education) Act 2023, which established the Nigerian Education Loan Fund (NELFUND).

NELFUND was established to coordinate the management of student loans in the country.