President Bola Tinubu has affirmed that the Student Loan Scheme he approved on June 12, 2023, will commence in January 2024.
Tinubu also promised that series of industrial action by academic staff unions of tertiary institutions will not occur again.
“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 at the 29th session of the annual Nigeria Economic Summit, NES, at Transcorp Hilton, Abuja, on Monday, October 23.
The NES is anchored by the non-profit think-tank, the Nigerian Economic Summit Group.
Tinubu elaborated on his administration’s plans to stabilize the economy through the collaboration of all stakeholders, especially the private sector, noting the need to immediately initiate a sustainable credit scheme.
He reasoned that such a scheme would aid an effective 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.
Tinubu’s comments come just 72 hours after he approved the partial waiver of the ‘No Work, No Pay’ Order instituted against striking members of the Academic Staff Union of Universities, ASUU, by the administration of former President Buhari following the commencement of their eight-month strike which began on February 14, 2022, and was terminated on October 17, 2022.
The waiver now permits the previously striking members of ASUU to receive four months of salary accruals out of the eight months of salary which was withheld during the eight-month industrial action undertaken by the union.
