The Student Loan Bill, which has just been signed into law by President Bola Tinubu is expected to see the establishment of an education bank.

President Tinubu signed the bill on Monday at the Presidential Villa, Abuja.

Recall that, in November 2022, the bill, which seeks to provide interest-free loans to indigent Nigerian students, was passed by the national assembly.

The bill was sponsored by the immediate-past speaker of the House of Representatives, Femi Gbajabiamila.

Recall that, speaking at one of his campaigns, Tinubu had promised to give student loans as part of efforts to develop the education sector and also build the youth capacity.


Tinubu made the promise at the British Royal Institute in London.

“Youths are the greatest asset of tomorrow,” Tinubu said in Chatham House while fielding questions from participants at the event, adding that they will be part of his “all-inclusive” government, pointing to the Lagos State Governor Babajide Sanwo-Olu.

“The education system is to change. We would overhaul it and tinker with some areas with the philosophy that no one would be left behind. There will be student loans for all. We are going to reform the Almajiri system, We are equally going to build more schools, recruit more teachers and train them,” the former Lagos state governor said.

To further help young people, he said if elected, his government would equally introduce technology hubs where youths can acquire digital skills to better develop their leadership skills.

“Youths can even develop technological languages on their own and make a better 21st-century approach to governance in Nigeria,” he said.

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