The Speaker of the House of Representatives, Hon. Tajudeen Abbas, has assured Nigerians that it will make students loans accessible to all eligible Nigerians by removing obstacles that could block their access.
Abass, who was represented by the Deputy Speaker, Hon. Benjamin Kalu, said this at the opening of the legislative summit on students loans and access to higher education (Students Loan Act, 2023) on Thursday at the National Assembly, Abuja.
He noted that the law will promote more equitable access to quality higher education for Nigerian children, adding that the legislature plays a crucial role in providing access to quality education in the country.
“Education is integral to the development of any nation, and no country can afford to toy with the future of its young people. The legislature, as you know, plays a crucial role in providing access to quality education in the country. Our role in this regard is multifaceted. It involves enacting laws and policies that govern education, allocating resources, and overseeing the implementation of these policies and laws as well as the ututilisation of appropriated funds,” he stated.
Furthermore, he stated: “Through these actions, the legislature contributes significantly to creating an enabling environment for quality education and ensuring that the right to education is upheld for all Nigerians. In this respect, the Student Loan Act is a transformational piece of legislation.
“This is quite critical, given that education is considered a fundamental right in Nigeria. The legislature as custodians and defenders of citizens’ rights, play an essential role in safeguarding this right. This informed the initiation and passage of the Student Loan Act by the 9th House of Representatives. The purpose was to create seamless access to credit facilities for quality higher education.”
The Lawmaker noted that key barriers to accessing higher education is the high cost of tuition fees, accommodation, textbooks, and other educational expenses, while lamenting that “many talented and deserving students are unable to afford these costs, leading to a significant disparity in educational opportunities. As a result, we are witnessing a situation where only a privileged few can access quality higher education while the majority struggle to make ends meet.”
“By accessing credit facilities, the Act aims to ensure that deserving students are not denied educational opportunities due to financial constraints.
“However, concerns have been raised about the conditions for accessing the loan as contained in the Act. It is feared that these conditions might hamper the good intentions of the legislature, which is to create access for as many Nigerians as possible who desire quality higher education. It is due to this fact that the summit was convened to harness the opinions of stakeholders and experts on the improvement of the Act.”
He urged the Committee to undertake comprehensive consideration of the areas of concern in the Students Loan Act, as well as all issues of government intervention in education and access to quality education for Nigerian children.