The Student Loans Re-enactment Bill has been signed into law by President Bola Tinubu on Wednesday at the State House in Abuja.
Olusegun Dada, Special Assistant on Social Media to the president tweeted that the bill signing was done in the presence of the leadership from the National Assembly, ministers, and major education stakeholders.
The executive bill establishes the Nigerian Education Loan Fund as a corporate body tasked with receiving, managing, and investing funds to provide loans to Nigerians pursuing higher education, vocational training, and skills acquisition programs.
The new legislation repeals the previous Students Loans (Access to Higher Education) Act of 2023 and re-enacts the Student Loans (Access to Higher Education) Bill from 2004.
