We will ensure adequate funding for the Student’s Loan – Reps

By Christiana Ekpa

Chairman, House of Representatives’ Committee on Student’s Loan, Hon. Gboyega Isiaka on Thursday assured Nigerians of the present administration’s resolve towards ensuring adequate funding of the Student’s Loan for the benefits of Nigerians studying in public owned Tertiary Institutions across the country.
Hon. Isiaka who gave the assurance during a press briefing held in Abuja, disclosed that the quantum of funds required for successful implementation of the Student Loan will be drawn from one percent of all revenues accruing into the Federation Account.
While applauding the initiative, Hon. Isiaka explained that the repeal of the initial Student Loan Act was necessitated with a view to remove all the encumbrances that may deprive a lot of Nigerian Students from accessing the Loan.
He said: “the patriotism and determination to make sure that this is a sustainable success still made the Executive and Mr. President in particular Tom present those far-reaching amendments which has not become law.
“The law has amended so many shortcomings in the 2023 law in the area of fund that we have. No we have a known corporate entity that is called Nigerian Education Trust Fund. We now have an institution that is strong, sustainable and comparable to what we have in different parts of the world and going by all that will come into it.”
While expressing satisfaction with the initiative, Hon. Isiaka said: “I am satisfied in my mind that the Nigerian government under President Bola Ahmed Tinubu has done so well for the Nigerian educational sector.”
Responding to question on the possible takeoff time of the scheme, he expressed optimism that the Executive will expedite action on the setting up of the management team of the Institution without further delay.
While stressing that “everybody is in a hurry to get this done,” Hon. Isiaka expressed optimism that the management of the National Education Trust Fund when constituted will be given a marching order to commence work in earnest for the benefit of millions of Nigerian Students.