President Bola Tinubu has signed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law on Wednesday.
This significant move follows extensive deliberations by both the Senate and the House of Representatives on the Committee on Tertiary Institutions and TETFund’s report.
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Senate Passes Students Loan 2024 Act
Initially enacted in June 2023, the bill underwent legislative review and reconsideration before being ratified by President Tinubu.
This marks his second legislative achievement since taking office just two weeks ago.
The legislation, sponsored by Speaker Femi Gbajabiamila, aims to provide interest-free loans to financially disadvantaged students, enhancing access to higher education.
It successfully passed the third reading at the House on May 25, 2023.