President Bola Ahmed Tinubu has declared that his administration will launch a Students Loan Scheme in January 2024 to end the frequent industrial actions in the education sector.
He made this announcement at the 29th Nigerian Economic Summit in Abuja on Monday.
The president said that the Students Loan Scheme would enable students to access funds for their education without depending on their parents or sponsors. He said that this would also reduce the pressure on the government to meet the demands of the academic staff unions.
He also revealed his plans to introduce a consumer credit scheme that would allow Nigerians to buy cars and houses on loan. He said that this would boost the economy and support his anti-corruption agenda.
He said: “We are saying no more strikes to the future of our children and students. The new Students Loan Programme will start by January 2024. I thank my team and my colleagues for developing this programme.
“We also need a consumer credit scheme that will come into effect as soon as possible. We cannot fight corruption when people have to look for cash to buy cars or houses. We need a mortgage system for homeownership.”
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