Nigerian President, Bola Tinubu restated on Monday that the Student Loan Scheme, which was sanctioned on June 12, 2023, will be launched in January 2024.
Furthermore, he assured that incidents of industrial strikes by academic staff unions in tertiary institutions would be eradicated for good.
‘By January 2024, the new Students Loan Programme must commence. To the future of our children and students we’re saying no more strikes,” Tinubu said when he declared open the 29th session of the annual Nigeria Economic Summit at Transcorp Hilton, Abuja.’
The NES is coordinated by the Nigerian Economic Summit Group, a non-profit think-tank.
In his discussion about his administration’s economic stabilization strategies involving all stakeholders, particularly the private sector, Tinubu emphasized the necessity of promptly establishing a sustainable credit scheme.
Read also: Mixed Feelings As S’Court Sits On Atiku, Obi, APM’s Appeals
He suggested that the introduction of this scheme would facilitate a robust anti-corruption campaign.
‘There must be consumer credit, the scheme will have to come into effect as soon as possible.’
‘I thank my team and my colleagues for building this programme, develop it now.’
‘We cannot talk about anti-corruption when you have to look for cash to buy a car when there’s no mortgage for homeownership’, he said.
The remarks from Tinubu comes just 72 hours after his sanctioning of the partial exemption from the “No Work, No Pay” Order imposed on striking Academic Staff Union of Universities members, marking the conclusion of their eight-month strike, which commenced on February 14, 2022, and ended on October 17, 2022.
The waiver stipulates that the previously striking ASUU members are eligible to receive four months’ worth of salary accruals from the eight months of salary that were withheld during the eight-month industrial action undertaken by the union.