President Bola Tinubu on Monday signed into law a bill to establish an education bank towards providing interest-free loans to Nigerians seeking higher education.
Mr Gbajabiamila has now been appointed the Chief of Staff to Mr Tinubu, and he is billed to assume office on Wednesday, a day after his tenure as the speaker of Nigeria’s green chamber. “We will institute a pilot student loan regime…this will expand access to education to all Nigerians regardless of their backgrounds,” he wrote in his manifesto, Renewed Hope. “At the same time, this will give institutions the ability to charge more cost-reflective tuition fees. Because of the current employment rates and other conditions, the loan program will have a maximum limit any student may borrow and must have flexible repayment provisions.
Also, public tertiary institutions have always claimed that tuition is free but sundry payments are introduced to augment allocations from the Nigerian government.