President Bola Ahmed Tinubu confirmed on Monday that the Student Loan Scheme, which he endorsed on June 12, 2023, is scheduled to kick-start in January 2024.
Tinubu made this remarks during the 29th session of the annual Nigeria Economic Summit at Transcorp Hilton, Abuja, where he assured that this initiative would put an end to the recurring industrial actions by academic staff unions in tertiary institutions.
The President outlined his administration’s economic stabilization plans, emphasizing the importance of a sustainable credit scheme to support an effective anti-corruption campaign.
Just 72 hours earlier, he granted a partial waiver of the “No Work, No Pay” Order to striking members of the Academic Staff Union of Universities (ASUU), allowing them to receive four months of withheld salary accruals out of the eight months affected by their recent eight-month strike, which ended on October 17, 2022.
“There must be consumer credit, the scheme will have to come into effect as soon as possible,” he said.
“I thank my team and my colleagues for building this programme, develop it now. We cannot talk about anti-corruption when you have to look for cash to buy a car when there’s no mortgage for homeownership.”