The student loan (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024 has been passed by the senate and house of representatives.
The law passed both chambers of parliament on its first, second, and third readings.
The resolution was passed by the upper legislative body after it had reviewed the Senate Committee on Tertiary Institutions and the TETFUND’s report.
The committee’s chair, Muntari Dandutse, delivered the findings in plenary on Wednesday.
On March 14, President Bola Tinubu asked the national assembly to repeal and reenact the student loan law.
Tajudeen Abbas, speaker of the house of representatives, read the president’s letter during plenary.
The president sent a similar letter to the senate, asking the lawmakers to accord his request “expeditious consideration”.
Godswill Akpabio, president of the senate, read the senate’s version during plenary in the red chamber.
“Pursuant to Section 58 (2) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended), I forward, herewith, the Student Loan (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024 for the kind consideration of the House,” Tinubu’s letter read.
“The Student Loan (Access to Higher Education) (Repeal and Re-enactment) Bill, 2024 seeks to enhance the implementation of the Higher Education Student Loan Scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources, and disbursement and repayment procedures.”
