The Executive Secretary of the Tertiary Education Trust Fund (TETFUND), Sonny Echono, has provided reassurance that the suspension of the student loan scheme is temporary and not indefinite. He clarified this during a courtesy visit by the Kwara State governor to the TETFUND headquarters in Abuja.
Echono emphasized that the delay in the launch is aimed at ensuring a seamless implementation of the scheme and to guarantee its adherence to high standards. His remarks came in response to the announcement by the Executive Secretary of the Nigerian Education Loan Fund, Akintunde Sawyer, who had stated that the scheme’s launch was postponed indefinitely.
While Sawyer cited the need for corrections before the launch, Echono clarified that the delay is merely for housekeeping purposes. He affirmed the commitment of the President to the scheme’s successful rollout and assured that it would commence within a matter of weeks.
Echono highlighted the importance of avoiding a rushed launch to address any objections and ensure the scheme’s sustainability. He also emphasized the inclusivity of the loan scheme, stating that it would benefit students of vocational studies as well.
Addressing concerns about insecurity in tertiary institutions, Echono affirmed that the Federal Government is actively working to address security challenges, assuring that such issues would soon be resolved.
Governor Abdulrahman Abdulrasaq of Kwara State commended TETFUND for its intervention in funding universities in the state, citing the establishment of the best university library in West Africa as an example of its impact.
The student loan scheme, initially proposed by former Speaker of the House of Representatives, Femi Gbajabiamila, was signed into law by President Bola Tinubu in June 2023. Despite missing the initial start date, preparations for the programme were completed by January 2024, according to Minister of State for Education, Yusuf Sununu. Tinubu further indicated plans to incorporate additional features, such as vocational studies, before the programme’s launch.
