…as bill gets expeditious heariing scale First, second reading
By Gloria Ikibah
President Bola Tinubu has transmitted a letter to House of Representatives seeking the repeal and reenactment of the Students Loan Bill.
The letter which titled “TRANSMISSION OF STUDENT LOANS (ACCESS TO HIGHER EDUCATION) (REPEAL AND RE-ENACTMENT) BILL, 2024 and dated March 14, 2024, was read by the Speaker, Tajudeen Abbas, on Thursday at plenary.
This according to President Tinubu seeks to enhance the implementation of the Higher Education Student Loan Scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF).
The letter reads: “Pursuant to Section 58(2) of the Constitution of The Federal Republic of Nigeria, 1999 (as amended). I forward, herewith, The Student Loan (Access to Higher Education) (Repeal and Re-Enactment) Bill, 2024 for the kind consideration of the House of Representatives.
“The Student Loan (Access to Higher Education) (Repeal and Re- Enactment) Bill, 2024 seeks to enhance the implementation of the Higher Education Student Loan Scheme by addressing challenges related to the management structure of the Nigerian Education Loan Fund (NELF), applicant eligibility requirements, loan purpose, funding sources and disbursement and repayment procedures.
“Whilst hoping that this submission will receive the usual expeditious consideration of the House of Representatives, please accept, Rt. Honourable Speaker, the assurances of my highest consideration.”
Meanwhile, “A Bill for an Act to Repeal the Students Loans (Access to Higher Education) Act, 2023 and Enact
the Student Loans (Access to Higher Education) Bill, 2024 to Establish the Nigerian Education Loan Fund as a Body Corporate to Receive, Manage and Invest Funds to Provide Loans to Nigerians
for Higher Education, Vocational Training and Skills Acquisition and for Related Matters (HB.1266), was present on Thursday at plenary.
The Bill to repeal and reenactment, received expeditious hearing as it scaled first and second reading.
Lawmakers who debated the bill on the floor of the House were unanimous in their agreement that it should be passed to law as quickly as possible for the benefit of Nigerian education.
Minority Leader, Rep. Kinglsey Chinda commended President Tinubu for initiating the executive bill.
He said: “This is what Nigerian students have been waiting for and this bill is clearly in the interest of our children out there.
“The lapses in the first bill have been rectified in this new bill. Let us pass this bill and transmit it to the executive for implementation”.
Also speaking, Rep. Miriam Onuoha, member representing Onuimo/Okigwe/Isiala Mbano Federal Constituency of Imo State, noted that many Nigerians will benefit from the student loan scheme.
“This will be a relief to struggling mothers who are often threatened by lack of adequate fund to send their children to school.
“With this loan scheme, access to education is increased. Youths will be taken off the streets and I believe this will is part of the solution to kidnapping, insecurity and terrorism,” she said.
On his part, Rep. Philip Agbese who urged lawmakers to support the bill, advised that no part of the country should be disenfranchised from accessing the student loan once it takes off.
“I want to urge that the Federal Government should put mechanism in place to ensure that no part or region is disfranchised from this scheme,” he said.