The National Assembly, comprising the Senate and the House of Representatives, has passed the student loan bill.
The bill, which scaled first, second, and third readings in both parliamentary sittings, became law on Wednesday.
The Senate resolution followed the consideration of the committee’s report on tertiary institutions and TETFUND.
Muntari Dandutse, chair of the committee, presented the report during plenary.
TheNewsMatrics reports that the bill had suffered delays as the Presidency sought to make amendments to the initial bill in view of new realities.
The student loan scheme, championed by President Bola Tinubu, was billed for launch a fortnight ago but some of the clauses were deemed unrealistic.
The amendments to the revised bill include removal of restrictions on income bracket of beneficiaries while loans will cover all students expenses rather that tuition alone as proposed in the original draft.
Details later…
