Nigeria Needs More Than Student Loans For Quality Education, Says Gbajabiamila

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He expressed that the Students’ Loan Scheme, set to commence in January 2024, falls short of meeting the financial requirements for education…CONTINUE READING

The former Speaker of the House of Representatives conveyed this message in Lagos during the 35th convocation ceremony of Yaba College of Technology (YABATECH).

In a lecture titled “Empowering Nigerian Youths in the Present Day Economy,” he emphasized that the federal government, led by President Bola Ahmed Tinubu, would initiate the loan scheme to provide financial support for Nigerian students pursuing education.

Gbajabiamila assured that the loan application process would be streamlined, with applicants applying and verifying their details online.

He stated, “Nobody will need to know anybody to qualify for these loans, so that access to this financing will be genuinely egalitarian.”

While acknowledging the positive step taken with the Students’ Loan (Access to Higher Education) Act, Gbajabiamila highlighted that the student loan system addresses a part of the funding challenge for public tertiary education.

However, he emphasized that a more comprehensive discussion on the future of tertiary education in Nigeria must include strategies to address the funding needs of public tertiary institutions beyond government subvention.

Gbajabiamila acknowledged the reality that tertiary education requires substantial resources, and to compete globally, institutions need additional funding sources such as fees, investments, and other means.

He stressed the urgency of tackling the decline in scholarship quality, academic output, and the overall quality of graduates produced by many institutions in the country.

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