The Nigerian government has decided to indefinitely postpone the launch of the Student Loan Scheme, which was originally scheduled to take place on Thursday. Akintunde Sawyer, the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), revealed this information during an interview with Arise News on Tuesday.

Sawyer explained that the postponement was necessary due to ongoing adjustments and corrections that need to be made before the launch can proceed. However, he did not provide a new date for the event.

“I regret to inform you that I cannot provide a specific date at this time. We are working diligently to ensure that all stakeholders are aligned and well-prepared for the launch. We want to avoid any unforeseen issues and ensure a smooth, comprehensive, and sustainable implementation,” Sawyer stated.

He emphasized that the Student Loan Scheme is a well-intentioned project supported by President Bola Ahmed Tinubu, who is eager to see its successful rollout. The team behind the scheme is putting in significant effort to make that happen.

Earlier this year, on June 12, 2023, President Tinubu signed the Access to Higher Education Act, 2023 into law, marking a crucial milestone in providing interest-free loans to financially disadvantaged students in Nigerian tertiary institutions. The initiative aims to fulfill one of Tinubu’s campaign promises to improve funding for education.

Initially planned for September, the implementation of the Loan Scheme faced delays. However, President Tinubu remained determined and announced that the program would be launched in January 2024. Subsequently, the presidency announced the scheduled launch date as Thursday, March 14, which has now been postponed indefinitely.