President Bola Ahmed Tinubu has said the students loan scheme would address the challenges of indigent students dropping out of school.
The president who was represented by Professor Chinedu Nwajuba of the National Universities Commission (NUC) stated this in a message to the 31st/ 32nd convocation ceremony of the Federal University of Technology FUT) Minna yesterday.
He said, "As you are all aware, I have assented to the Student Loan Act, implementation of which will commence in January 2024. We expect that with this, indigent students would stay in school rather than drop out as had been the case for many in the past".
The president said over N2.18 trillion had been allocated to education in the 2024 budget and had demonstrated his commitment and determination to ensure substantial improvement in the sector.
"My administration is determined to ensure substantial improvement in the education sector. Pursuant to this, we are increasing funding for this critical sector, which is clearly demonstrated by our allocation of N2.18 trillion to the education sector in 2024 Appropriation Bill, more than 80 percent higher than the N1.29 allotted in 2023," he said.
Vice Chancellor of the university, Prof. Farouk Adamu Kuta, said with a staff strength of 2,385 and students population of 26,051, virtually all the programmes in the school had attained full National Universities Commission (NUC) accreditation status..
He said the university was preparing in earnest to host international accrediting bodies for international accreditation, adding; "This will project our university on the path of excellence, peaceful co-existence and developmental strides."
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