The National Association of Nigerian Students (NANS) has called for transparency in the implementation of the newly introduced student loan scheme. NANS emphasized the need for the Federal Government to appoint individuals of unquestionable integrity and competence to oversee the disbursement of the loans to ensure the scheme's success and sustainability.
Pedro Obi, the National President of NANS, issued a statement in Abeokuta on Friday, highlighting the importance of protecting students' rights and futures, particularly those studying abroad. Obi stressed that engaging all relevant stakeholders is essential for the effective administration of the loan scheme.
“To ensure the success and integrity of the student loan scheme, we urge the Federal Government to prioritize transparency and accountability in the disbursement of the loans and this must be done by engaging all relevant stakeholders,” Obi stated. He further emphasized the need for appointing individuals from diverse backgrounds, including academia, finance, and civil society, to oversee the loan disbursement.
Obi also called for transparent and effective monitoring mechanisms, such as regular audits, public reporting, and feedback channels for students to report any issues or irregularities. He praised President Bola Tinubu's administration for initiating the student loan scheme, which he believes, if properly implemented, will alleviate the financial burdens on students and their families and reduce the exodus of Nigerian students seeking education abroad.
“The loan scheme should be designed to be inclusive and accessible to all eligible students, regardless of their socio-economic background. Criteria for loan eligibility and repayment terms should be clearly defined and communicated to avoid any ambiguity or discrimination,” Obi added.
NANS pledged its full support to the Federal Government in this initiative, anticipating a significant positive impact on the nation's students and educational system.
Obi also addressed the issue of Nigerian students being deported from Teesside University in the UK for defaulting on their school fees, urging the Federal Government to take immediate action to protect the affected students.
President Bola Tinubu signed the Access to Higher Education Act, 2023, into law on June 12, 2023, to provide interest-free loans for indigent students pursuing higher education in Nigerian tertiary institutions.
