Nigerian Students Express mixed feelings over Student Loans Bill

Nigerians have taken to their respective social media platforms to express their views regarding the Student Loan Bill passed and signed into law by President Bola Ahmed Tinub at the Presidential Villa on Monday 13 June.

Recall that the bill was passed by the National Assembly in November 2022, and was sponsored by the immediate-past Speaker of the House of Representatives and the new Chief of Staff (CoS) to the President, Femi Gbajabiamila.

The Bill allows Nigerian students in tertiary institutions to access interest-free loans from the Nigerian education loan fund.

The legislation provides for the establishment of the Nigerian education bank, which will have the power to administer, supervise, coordinate, and monitor the management of student loans in the country.

Based on the provisions of the legislation, the bank is expected to receive applications for student loans through higher institutions on behalf of the applicants and screen them.

Following the signing of the bill, Nigerians on Twitter have commended President Tinubu for seeking to provide financial assistance to Nigerian students in tertiary institutions.

While others berated the President for providing student loans in a country where there is no job to repay the loans after graduating.

Here are some of the reactions that have trailed the signing of the Student Loan Bill into law:

@Mz_Tosyn wrote: “PBAT (GCFR) signed into law, The student loan bill, which provides for interest-free loans to indigent Nigerian students!!! I’m glad I voted for this man.”

@dipoaina1 wrote: “The Jagaban of Nigeria, your president, my president, our president has signed The student loan bill as promised in his campaign speeches and manifesto, which provides interest-free loans to Nigerian students. Opor yeye. Asiwaju lo le sè.”

@AfamDeluxo wrote: “Student loan? In a country where there are no jobs? Are you people aware that student loans are tied to a student’s post-graduation income? Where are they going to get the jobs to repay? Anyways, this is another “let me show Nigerians working” before Judiciary sends my ass out.”

@PEC_Concepts wrote: “He’s working so hard to legitimize the stolen mandate using propaganda. Student loans in a country with about 41% unemployment rate, and some people will fall for this deceit. Like how are the students supposed to pay back the loans after graduation with no jobs out there for them.”
@JuliusAidelebe wrote: “I never doubted Tinubu to be a good president, I was only against his age and physical ability to lead us. Imagine how long it took him to Peñ a paper, people around him will take advantage of this and steal from him and us (the whole of Nigeria ).

“I won’t still vote him in if we are to re-elect, but that does not mean I did not knowledge how brilliant he is. Signing bills is one thing, if the funds released for these bills will reach the people or purposes it’s meant for is another thing. A lot of people have invested in Tinubu so much, they’ve been waiting for this opportunity to reap their investment. The moment he entrusts them with a contract they’ll run abroad with the money.”

@Blaton4 wrote: “We now have a President in Bola Ahmed Tinubu, who will make Nigeria work again. I believe this bill that has been signed into law will help douse greatly the financial constraints of many indigent Nigerians. Kudos to the President!!!”

@Filii_Africa wrote: “And you believed, you think it is by signing a bill. Go and ask Ngige. Your country has not paid teachers, it is a student loan you are planning to embark on.”

@blez_heji wrote: “Student loan signed into law. Na today them they sign law wey no dey work? Let us see the details….I hope repayment is not tied to post-graduate work. Because of work no dey.”

@izzylites wrote: “A good policy with no strategy as to how it would work would only be cool on paper. Education bank yet to be established, the elites and politicians alike would overshadow it, last they would not allow the poor to breathe.”

@omega08033 wrote: “My President God will give you long life, you will not die untimely. God bless you and Nigerians. ”

Source: Gistmania