President Bola Tinubu has cautioned federal institutions against implementing arbitrary increases in sundry fees payable as the economic challenges buoyed by fuel subsidy removal take a toll on Nigerians.
This was made known through a statement issued by Dele Alake, the special adviser to the president on communication and strategy, on Monday.
Following the assent of the ‘Student’s Loan Bill’ into law, federal schools have increased their fees by more than 100% – raising concern that higher education will soon become unaffordable to most Nigerians.
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The Student Loan Act was designed to give Nigerians access to Students Loan Fund (SLF), which provides interest-free loans for the poor to pursue higher education.
Federal Government Colleges, also referred to as Federal Unity Colleges, increased their fees to N100,000, from N45,000. The University of Lagos (Unilag) and other federal universities also announced an increase in fees.
The president’s move comes amid criticism of the student loan act, which Nigerian students have lamented that it is impossible to access due to the rigorous criteria. Tinubu also approved the removal of all restrictions on the students’ loan to ensure it is easily accessible to students.
The sudden hike in tuition fees amid outcry over the soaring cost of living appears to have prompted the president to intervene.
According to Alake’s statement, the federal government has also ordered the release of over 200,000 Metric Tonnes of grains to families in 36 states and the Federal Capital Territory, Abuja. The move is geared toward mitigating hunger orchestrated by fuel subsidy removal and the floating of Nigeria’s forex market.
Read the statement below:
“In line with his promise to ensure no Nigerian student abandons his or her educational pursuits as a result of lack of money and economic circumstances of their parents, President Tinubu has also approved the removal of all restrictions on the students’ loan to make it available to any student or household that may desire it,” the statement reads.
“Similarly, President Tinubu has directed the authorities in all Federal Institutions of higher learning to avoid an arbitrary increase in sundry fees payable and where possible defer further increase so that parents and students don’t face too many difficulties.
“While it is important to reiterate that President Tinubu has directed the release of over 200,000 Metric Tonnes of grains to families in 36 states and Federal Capital Territory, Abuja, the government is working to ensure that vulnerable students can also benefit from conditional cash transfers and food distribution.
“The federal government salutes the courage, wisdom, and partnership of Nigerian Students as our country navigates this challenging time.
“President Tinubu will continue to prioritize education and the needs of the students, improve the welfare of teaching and non-academic staff, and invest in infrastructure to make our institutions of higher learning more globally competitive.”