….says poverty shouldn’t be barrier to education
By Haruna Salami
The Joint Senate Committee on Tertiary Institutions and TETFund and the House Committee on Students Loan, Scholarship and Higher Education Financing has held public hearing with stakeholders in the education sector on the amendment of the Students Loan (Access to Higher Education Repeal and Re- Enactment) Bill 2024 to make access to higher education seamless.
The stakeholders at the public hearing include officials of the Central Bank of Nigeria (CBN), Ministry of Education, Federal Ministry of Youth Development, Federal Inland Revenue Service (FIRS), Joint Admissions and Matriculation Board (JAMB), National Association of Nigerian Students (NANS) among others.
The Students Loan Act was the first law signed by President Bola Tinubu on June 12, 2023, but the law could not take off till today due to some observed gaps.
President of the National Association of Nigerian Students (NANS), Mr. Lucky Emonele said the body visited President Tinubu on February 14, 2024 at the Villa and discussed some of the hindrances to the full implementation of the law, hence the present amendments.
Some of amendments sought include separation of governance of the fund from management structure to ensure transparency.
On eligibility, any family earning income of up to N500,000 disqualifies an applicant in the current Act, but the amendment has removed that, just as the loan history of the parents will no longer be a hindrance to a student accessing the loan.
The amendment also addressed the issue of guarantor, which was completely removed in addition to repayment after two years, which is now moved to two years after completion of NYSC.
The NANS President also used the opportunity to call for provision of study grants for Nigerian students in the amendment to Students Loan Act for them to further their education.
He said “if the Federal Government through the Tertiary Education Trust Fund (TETFund ) could earmark N683 billion on public tertiary institutions in 2024, without requesting for payback from beneficiary institutions, Nigerian students should not be treated any different”.
He said the proposed loan repayment period of two years post-National Youth Service Corps (NYSC) for the was not realistic and proposed 5 years instead, arguing that less than 10 per cent of Nigerian graduates get absorbed into the labour force upon completion of their NYSC.
He also appealed that the provision of loan scheme should not be a further reason for arbitrary increments of school fees by management of tertiary institutions and urged the National Assembly to pass a resolution that prohibits public tertiary institutions from increasing school fees in the next 10 years.
In his contribution, the Executive Secretary, Nigeria Education Loan Scheme (NELFund), Dr. Akintunde Sawyer has described the amendment to the Students Loan Act as a “defining moment” for the country.
Describing President Bola Tinubu as “the people’s president”, Dr. Sawyer said Tinubu “stepped in to unlock the future for Nigerian youth” through the proposed amendments.
He gave the example of how the late Chief Obafemi Awolowo unlocked the future of the South West through “free education”, adding that “we must build a foundation without partisan consideration”.
He said the programme is not for the elite, but for those who don’t have “guaranteed meal a day if they don’t make a sale”.
Minister of Education, Prof. Tahir Mamman commended President Bola Tinubu for his passion and commitment toward the education sector.
He said the president does not want any child of school age to be out of school, given his passion for the sector.
Minister of Youth Development, Jamila Ibrahim said “we cannot overemphasize the importance of a bill that is put in place to improve access to funding for education.
She said the bill looks “nearly good to go. We just need to make a few adjustments based on the recommendations made at the public hearing. These amendments need to be within a timeline to expedite implementation because this bill is very dear to Mr. President”.
“Nigerian youth cannot wait to have access to funding that will support their education and make access to education a seamless process”, she said
Senator Muntari Dandutse, Chairman of the Committee said access to quality higher education was a pressing concern for many Nigerian students.
He said its successful implementation would unlock a brighter future for the youths and the entire nation.
“By removing financial barriers, these initiatives will enable more students to pursue higher studies, leading to a larger pool of skilled graduates who contribute to the country’s social and economic development. Increased literacy rates fosters economic growth, social progress, and democratic participation”.
