Tinubu Signs Into Law Bill Permitting Nigerian Students To Take Loans Without Interests

President Bola Ahmed Tinubu of Nigeria has signed into law a bill permitting indigenous Nigerian Students to take loan without interest.

The law enables Nigerian indigenous students in tertiary institutions to access the interest-free loans to further their education.

President Bola Ahmed Tinubu signed the bill into law on Monday, according to video and statement credited to the Presidency, indicating that the funds will be domiciled in the Ministry of Education and will only be accessed by indigent students of tertiary institutions.

Accordingly, the law is to provide easy access to higher education for indigent Nigerians through interest-free loans from the Nigerian Education Loan Fundi.

The student loan bill sponsored by the Speaker of the 9th House of Representatives, Femi Gbajabiamila, which provides for interest-free loans to indigent Nigerian students, passed the third reading at the House, two weeks ago.