President Bola Ahmed Tinubu has revealed that the federal government has disbursed a total of ₦99.5 billion in student loans to 510,000 students across Nigeria’s 36 states as of September 10.
Speaking on the initiative, the president emphasized that the funds were released to support access to education and reduce the financial burden on students nationwide. He further disclosed that an additional ₦44.7 billion was provided as upkeep allowance to assist beneficiaries with living expenses while pursuing their studies.
According to Tinubu, the student loan scheme is part of his administration’s broader commitment to empowering Nigerian youths through education and ensuring that financial constraints do not hinder academic aspirations.
The development has been welcomed by many as a significant step in addressing funding challenges in the education sector, though stakeholders continue to call for transparency and efficiency in the loan disbursement process.
Discover more from Scoop Hub
Subscribe to get the latest posts sent to your email.