The Federal Government has announced the indefinite postponement of the Nigerian Students Loan Scheme launch.

Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund, disclosed this during an interview with ARISE NEWS on Tuesday.

In June 2023, President Bola Tinubu signed a bill initiating a Students Loan Fund aimed at providing interest-free loans to Nigerians pursuing higher education.

The bill, proposed by former Speaker of the House of Representatives, Femi Gbajabiamila, was initially scheduled to commence between September and October 2023.

Despite assurances from Tinubu that the program would kick off in January 2024 after missing the October deadline, the launch has been further delayed.

In January, Minister of State for Education, Yusuf Sununu, announced the completion of preparations for the program, including the development of the Student Loan Scheme website and strategizing for its implementation.

Additionally, Tinubu informed leaders of the National Association of Nigerian Students that the program would incorporate vocational studies before its launch.

However, just 48 hours before the scheduled launch, Sawyer cited the postponement of the loan scheme due to necessary corrections being made.

“Unfortunately, I won’t be able to commit to a specific date. We are ensuring alignment among stakeholders to roll out the program in a comprehensive, sustainable manner,” Sawyer stated.