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Renewed Hope: N32b Student Loan Scheme – Tinubu kicks off payment as 164,000 students register for the program
With a signal from President Bola Ahmed Tinubu, the Student Loan Scheme, one of the cardinal programmes of the administration, commenced yesterday.
The N32 billion made available for the programme will be given as loans to successful applicants.
According to the Nigeria Education Loan Fund (NELFUND) – the agency running the scheme, 103,000 successful applications were received.
It said 164,000 students were registered between May 25 when the portal opened and July 17.
The President gave out dummy cheques to students and some vice-chancellors to symbolically kick-start the scheme.
The Student Loan Scheme is a novelty meant to make loans available to indigent students or those unable to pay their fees so that they do not drop out of school.
“No student will drop out of school again just because he has no means to pay the fee,” the President had declared while announcing the scheme.
Beneficiaries’ tuition will be paid directly to the institution, while only the stipend will be paid to successful applicants.
President Tinubu declared education as the biggest weapon against poverty and the most effective battle axe to fight insecurity.
He said: “What I believe is that education is the greatest weapon against poverty in any society.
“Without education, there is no vision, there is no development, you cannot successfully conquer insecurity.
“Education is that light at the end of the tunnel. No matter how sluggish you move, it will give you the light and the hope.
“We are investing; we don’t want to try ignorance as an alternative, we want education from foundations to the topmost level.
“Today (yesterday), I am fulfilling one of my greatest campaign agendas. You cannot find your way if you are not well educated, you cannot even fight terrorism and banditry.
“If we have a successful inclusive loan that is necessary for our people to get educated and invest in their own lives, we would have built a fair society and a promise that we will earn a banner without stain to our children.”
NELFUND’s Executive Secretary/Managing Director Akintunde Sawyerr restated that the scheme aims to empower youths by removing financial barriers to their academic pursuit.
Reeling out NELFUND’s progress since the launch, Sawyerr said the Fund got key amendments to its Establishment Act on April 3, 2024, and secured dashboard metrics on May 25.
He explained that students applied for two types of loan – educational fees which are sent directly to their institutions of learning and application for upkeep fund, which serves as their monthly stipend
“Institutions collected cheques for multiple applications but students cannot get stipend unless their fees are picked by NELFUND,’’ said Sawyerr.
Sawyerr told reporters after the launch that there was a higher demand for loan from students of tertiary institutions in the North.
He attributed the trend to their proactive approach and effective networking.
However, he noted that there is growing awareness and interest by students in the South, despite initial scepticism.
The NELFUND boss added that universities have the highest demand for loans, followed by polytechnics and teacher training colleges.
He said: “Institutions in the north have been very proactive in supporting and helping their students and in providing their data to us.
‘’They seem to be very well organised in terms of networking.
“In the Southern part of the country, there’s growing awareness and there’s growing interest.
“I think there’s been a lot of scepticism, generally and I think the most sceptical parts of the country are in the South. They question everything: is it true, is it real, is it a scam?
“This disbursement programme is to say that ‘this is NO FUND, this is NELFUND.’
“We’re trying to ensure that people know that this is not a trick, it’s not a game.
“So, I think we’ll see the scepticism that you can find mainly in the Southern part begin to disappear when we start paying out.”
He added: “In terms of the three levels of institutions, the universities are the ones with the highest demand for the loans.
“It’s followed by the polytechnics and then the teacher training colleges.’’
The Executive Secretary said private institutions are excluded from the scheme because they charge higher tuition.
He thanked President Tinubu ‘’for having the vision and the courage to do what he has just done.’’
“I am sure you’ve all heard that fortune favours the brave and this courageous move will bring fortune not just to him, but to the entire nation,” he said.
National Association of Nigerian Students (NANS) President Lucky Emonefe described the take-off of the scheme as a new dawn for students.
“Today we are excited. Nigerian students are happy that the dream has come true.
“It was once a dream; it has become an act and today is the presidential launch and disbursement,’’ he said.
Present at the launch were Senate President Godswill Akpabio, Speaker of the House of Representatives Abbas Tajudeen; Wale Edun (Minister of Finance and Coordinating Minister of the Economy), Abubakar Bagudu (Budget and Economic Planning minister), Mamman Tahiru (Education minister) and Jamila Bio-Ibrahim (Youths minister).
Chairman NELFUND board Jim Ovia thanked the President for the privilege to serve.
He referred to the United Nations Sustainable Development Goals, of which education is number four.
“The President has recognised that. We are all grateful to him for NELFUND,” Ovia said.
Central Bank of Nigeria (CBN) Governor Olayemi Cardoso, Federal Inland Revenue Service (FIRS ) Chairman Zach Adedeji, Acting Executive Secretary of National Universities Commission (NUC) Chris Mayaiki and Joint Admissions and Matriculation Board Chairman Ishaq Oloyede were also in attendance.
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Breaking : 176 Woro Abductees, 132 Others Freed in Major Multi-State Rescue Operation
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A total of 308 kidnapped victims, including 176 residents of Woro community in Kwara State and 132 others abducted in Niger and Kebbi states, have been rescued in a coordinated multi-state security operation.
The successful operation, carried out by security agencies, marks a significant breakthrough in ongoing efforts to combat kidnapping and restore peace across the affected communities. Authorities said the rescued victims have been reunited with their families, while efforts are underway to apprehend the perpetrators and dismantle the criminal networks responsible for the abductions.
The rescue underscores the commitment of security agencies to strengthening intelligence-driven operations and ensuring the safety of lives and property across the country. Further details on the operation and ongoing investigations are expected from the relevant authorities.
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Dangote Reduces Petrol Price to ₦1,165, Diesel Drops to ₦1,570
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The Dangote Petroleum Refinery says it has reduced the ex-depot prices of Premium Motor Spirit (petrol) and Automotive Gas Oil (diesel) as part of efforts to make petroleum products more affordable.
Under the new pricing structure, the refinery reduced the price of petrol from N1,215 per litre to N1,165, representing a N50 reduction, while diesel was cut from N1,650 per litre to N1,570, amounting to an N80 reduction.
In a statement signed by the Dangote Group on Wednesday, the refinery said the price review was aimed at enhancing energy affordability, improving access to refined petroleum products and supporting economic activities across Nigeria.
According to the refinery, the move reflects its commitment to providing “affordable, high-quality petroleum products to the Nigerian market.”
It added that it remained committed to ensuring stable supply while leveraging operational efficiencies to deliver value to consumers, businesses, and stakeholders.
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The company said it would continue to pass on the benefits of improved operational efficiencies to consumers whenever market conditions permit.
It stated that the refinery continues to play a pivotal role in strengthening Nigeria’s energy security, reducing reliance on imports, and supporting the nation’s economic development through the supply of world-class petroleum products.
“Dangote Petroleum Refinery has announced a reduction in the ex-depot prices of Premium Motor Spirit (PMS) and Automotive Gas Oil (Diesel), reaffirming its commitment to providing affordable, high-quality petroleum products to the Nigerian market.
“Under the new pricing structure, the refinery has reduced the ex-depot price of PMS to N1,165 per litre, down from N1,215 per litre, representing a reduction of N50 per litre. Similarly, the ex-depot price of Diesel has been reduced to N1,570 per litre from N1,650 per litre, amounting to a decrease of N80 per litre.
“The price review reflects Dangote Refinery’s ongoing efforts to enhance energy affordability, improve access to refined petroleum products, and support economic activities across Nigeria,” the statement read partly.
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National Policing Bill Set for Seven-Week Implementation Plan, Says Gbajabiamila
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•Working group opens portal for public input • ‘It is Tinubu’s most consequential reforms’
The process leading to the creation of state police has been fast-tracked.
A seven-week roadmap for the National Policing Bill commenced on July 27 and is expected to be completed on September 14.
Chairman of the Presidential Working Group on the National Policing Bill, Mr Femi Gbajabiamila, unveiled the action plan yesterday after the group’s meeting.
He said the seven-week work programme would proceed through simultaneous legal drafting, policy research, data analysis and implementation modelling.
Gbajabiamila added that the final submission would include schedules, an explanatory memorandum, a legal audit, a consequential amendments matrix, clause-by-clause analysis, a state readiness framework, fiscal and implementation notes, a validation report, a risk register and a digital archive.
The Chief of Staff reiterated the Federal Government’s commitment to decentralised policing that would not undermine national unity or the rule of law.
He said: “State police cannot mean 36 state militias,” adding that while states must have a legitimate role in public safety, “no political office holder should be able to direct the arrest of an opponent, the suppression of lawful political activity, or the selective enforcement of the law.”
Gbajabiamila explained that federal intervention would remain “exceptional, evidence-based, proportionate, time-limited and reviewable”, while officers would remain accountable to the Constitution rather than political interests.
He said no state would be permitted to commence policing operations until it demonstrated readiness in recruitment, training, equipment, pensions, complaints handling, financial sustainability, firearms control and independent oversight.
Gbajabiamila added: “Operational commencement must be based on readiness, not announcement. Although states could exceed national benchmarks, no Nigerian should receive a lower standard of protection because of where they reside.”
To encourage public participation, the Chief of Staff called for memoranda and position papers from Nigerians, civil society organisations, professional bodies, security institutions and other stakeholders.
He said a dedicated portal, nationalpolicingbill.com, had gone live to receive submissions, with plans to migrate it to a government domain.
On the financial implications of the reform, Gbajabiamila said it was premature to estimate the cost, noting that expenditure would be determined through empirical research conducted on a state-by-state basis.
He dismissed fears that some states might lack the capacity to establish police services.
However, Gbajabiamila explained that where a state is genuinely unable to meet the prescribed standards, the Nigeria Police Force would continue to provide policing services until the state becomes operational.
Gbajabiamila said the committee is expected to submit an Executive Bill to President Bola Ahmed Tinubu on September 3.
He said the package would go beyond draft legislation, adding that it would also provide the implementation blueprint required to operationalise a dual federal-state policing architecture once the constitutional amendment creating state police comes into force.
Hailing the initiative, Ogun State Governor Dapo Abiodun described the National Policing Bill as one of President Tinubu’s most consequential reforms.
Also assuring Nigerians of the prospects of the initiative, the Attorney-General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN), said the enforcement of national standards would prevent abuse of state police and protect citizens.
Explaining further, Gbajabiamila said that following the completion of the draft, nationwide consultations would be held before the President grants final approval, after which the executive bill would be transmitted to the National Assembly.
He said: “The resulting draft executive bill package is scheduled for presentation to the President on the 3rd of September.
“We have tweaked the process so that the national consultation will come before the President’s final approval, after which the text and supporting materials will be revised and prepared for formal transmission to the National Assembly.”
He stressed that despite the progress made by the National Assembly, no state police service currently exists in Nigeria because the constitutional amendment has not yet secured the approval of the required number of state Houses of Assembly.
He said that while the constitutional amendment would create the legal authority for state policing, it would not by itself resolve critical operational issues such as recruitment, training, funding, command structures, jurisdiction, pensions, firearms regulation, data management, complaints mechanisms and inter-agency cooperation.
Gbajabiamila explained that those issues would be addressed in the National Policing Bill and other consequential legislation being prepared by the working group.
Gbajabiamila said the assignment also includes a review of the Police Act 2020, the Police Service Commission framework, police regulations and other laws affected by the reform, alongside provisions for minimum national policing standards, state certification, interstate cooperation, independent complaints institutions, human rights safeguards, forensic systems, funding arrangements and transition plans.
He said President Tinubu had approved a multidisciplinary Policy Advisory Committee, chaired by Justice Mohammed Abdullahi Liman, to provide technical oversight and validate the bill, fiscal framework and implementation materials before executive consideration.
He said the committee would draw its membership from the judiciary, academia, security agencies, the National Assembly, the Office of the National Security Adviser, the Nigeria Police Force, the Nigerian Bar Association, the Nigeria Governors’ Forum and state Attorneys-General representing the six geopolitical zones. NigerianBusiness Coverage
Abiodun described the National Policing Bill as one of the most consequential reforms of the Tinubu administration, saying the legislation would provide the legal and operational framework needed to translate the constitutional amendment into a workable policing system.
Abiodun, who represents the Nigeria Governors’ Forum (NGF) on the Presidential Working Group on the National Policing Bill, told reporters that the bill would address critical issues, including the jurisdiction of federal and state police, funding arrangements, recruitment, start-up grants for states and amendments to existing laws affected by the reform.
He noted that many Nigerians had assumed that states would immediately establish police services once the National Assembly approved the constitutional amendment, explaining that the current assignment of the working group is to produce the detailed implementation framework that would make the reform operational. NigerianBusiness Coverage
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Abiodun said: “What we’ve seen and witnessed is the amendment of the Constitution, and we’ve seen a groundswell of support by the entirety of Nigerians with a very high level of expectation that once the amendment was completed by the National Assembly, the next thing is for states to begin to implement their various state policing systems.
“The truth is that what this working group is working on is what would allow for the details of that implementation, which will be reflected in the bill.”
Abiodun dismissed insinuations that the Federal Government was attempting to retain control over state policing through the proposed legislation, insisting that the bill was intended only to translate the constitutional amendment into an effective and workable legal framework.
He said: “Someone has to be responsible for ensuring that the amendment now reflects in a bill that can be operated, and that’s what we’re working on.”
The governor explained that the legislation would also make consequential amendments to other existing laws, including the Firearms Act, while clearly defining the responsibilities of both federal and state police services.
He urged Nigerians to actively participate in shaping the proposed legislation through the newly launched public engagement portal, nationalpolicingbill.com, describing it as an interactive platform designed to give citizens a sense of ownership of the reform. NigerianBusiness Coverage
Fagbemi said the primary objective of the proposed legislation was to strengthen the protection of lives and property while ensuring that state police never become instruments of political persecution.
He explained that where any state is not yet prepared to establish its own police service, the Nigeria Police Force would continue to provide policing until such capacity is developed.
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Fagbemi said: “Law abhors a vacuum, so the federal presence will continue to dominate in that area.”
The minister defended the proposed minimum national policing standards, saying they were essential to guarantee equal protection for Nigerians irrespective of where they reside. NigerianBusiness Coverage
He said: “The main thrust of this bill is to ensure security of lives and property, and it is also important that we do not make state policing a weapon of political persecution or oppression.
“There must be standards. There must be the minimum threshold to guarantee the continued existence and operation of society.”
The minister said the standards would be aligned with globally recognised policing practices, assuring that officers moving between the federal and state police services would not lose their benefits.
Other members of the Presidential Working Group at the briefing included the Inspector-General of Police, Tunji Disu; NBA President Afam Osigwe (SAN); Chairman of the Policy Advisory Committee, Justice Abdullahi Liman; and Senior Special Assistant to the President on Planning and Research, Nnadubem Moghalu.
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