Close Check: Tinubu Contradicts Ministry on Student Loan Disbursement Date


By Quadri Yahya 

Contradictions have arisen over the commencement date for the disbursement of the much-debated student loan. 

President Bola Tinubu signed the bill to establish the Student Loan Fund into law on June 12, 2023.

The accented bill had suffered stifling setbacks since it was introduced to the National Assembly in 2016 by Femi Gbajabiamila, the immediate past Speaker of the House of Representatives. 

According to the bill, only students of government-owned tertiary institutions (universities, polytechnics, and colleges) can apply for the loan when it finally takes off (in September/October).

Two days after Tinubu signed the bill, David Adejo, permanent secretary at the Federal Ministry of Education said the disbursement will commence in September/October.

While answering questions from journalists in Abuja, June 14th, Adejo said the loan disbursal will begin in “September to October of this 2023/2024 academic session”.

His words: “The President has also directed that by September to October of this 2023/2024 academic session, he wants to see recipients of these loans. So it is a very serious march for us. So, between now and then, we have to figure out the process for people to get the loan”. 

But four months later, findings by Observers Mag revealed that the federal government had not begun disbursing the loan as of October 26th. 

Earlier on September 3, Vanguard newspaper in an analysis posited that the payment of the loan may be delayed for various reasons, including complaints by some stakeholders about the stringent conditions attached to accessing the money; the period of repayment; the non-inclusion of students in some levels of the admission of the scheme; and the composition of members of the board that will administer the loans.  

As if to confirm the newspaper postulation, on October 24, President Tinubu disclosed that the student loan scheme he approved on June 12, 2023, will kick off in January 2024.

Tinubu disclosed this at the opening of the 29th session of the annual Nigeria Economic Summit at Transcorp Hilton, Abuja.

“By January 2024, the new student loan programme must commence. To the future of our children and students, we’re saying no more strikes,” Tinubu said.

This contradicts the earlier date announced by the Federal Ministry of Education.


Observers Mag noted that President Tinubu contradicted the Ministry of Education on the date for the commencement of the student loan. 

While the ministry announced September/October as the date for the start of the loan payment, Tinubu said it would begin by January 2024.

Adekunle Famuyiwa

An avid writer, campus Journalist, researcher and budding Lawyer. Currently a 500-level student of Law at Obafemi Awolowo University, Ile-Ife, Osun state, and the Editor-In-Chief of Observers Mag

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