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In a significant legislative move, the Nigerian Senate has passed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024.
This milestone follows rigorous consideration by the Senate Committee on Tertiary Institutions and TETFUND, chaired by Senator Muntari Dandutse (APC – Katsina South).
The bill, transmitted to the National Assembly by President Bola Tinubu last week, received expedited treatment within the Senate. Notably, the Senate suspended relevant sections of its standing rules to fast-track the bill’s consideration, indicating a sense of urgency in addressing higher education access in Nigeria.
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Following debate on the bill, Senate President Godswill Akpabio referred it to the Senate Committee on Tertiary Institutions and TETFUND for further legislative scrutiny. The committee was tasked with conducting comprehensive analysis and reporting back within one week.
Central to the bill’s objectives is the establishment of the Nigerian Education Loan Fund, which aims to provide interest-free loans to indigent Nigerians. By facilitating access to higher education, this initiative aligns with the broader national goal of ensuring educational opportunities for all citizens, thereby enhancing human capital development.
The passage of the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 signifies a proactive step by the Nigerian government to address educational challenges and promote inclusivity in higher education.
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