The National President of the Academic Staff Union of Polytechnics (ASUP), Anderson Ezeibe, has condemned the student loan bill signed into law on Monday by President Bola Tinubu.
OsunDaily News reports the bill signed by President Tinubu on Monday was passed by the National Assembly in November 2022, and was sponsored by the immediate-past Speaker of the House of Representatives and the new Chief of Staff to the President, Femi Gbajabiamila.
The legislation provides for the establishment of the Nigerian education bank, which will have the power to administer, supervise, coordinate, and monitor the management of student loans in the country.
Based on the provisions of the legislation, the bank is expected to receive applications for student loans through higher institutions on behalf of the applicants and screen them.
Speaking with the Punch on Monday, Ezeibe said there are some areas in the act that will make it not practicable as the peculiarities of the country were not considered before the President signed the bill into law.
The ASUP President also lamented that it may be difficult for students who obtain the loan to pay back due to the high unemployment rate among graduates.
He said: “I have not studied the bill and we don’t want to react on the surface. But I have seen one area that will not be practicable.
“It says that students should refund the money two years after NYSC. But what is the provision for someone who is not working after NYSC? And will they all get jobs immediately after NYSC?”
