Caleb University Founder Applauds FG on Student Loan Scheme, Other Reforms

The Proprietor and Chief Executive Officer, Caleb Group of Schools, Dr. Oladega Adebogun, has commended the President Bola Tinubu-led administration for taking bold steps, towards restructuring education in the country.

Adebogun, was quoted in a statement signed by Prof. Elvis Otobo, that one of such giant strides by the current administration was the recent approval of the student loan scheme.

The president had on April 3, passed the Student Loans (Access to Higher Education) Act (Repeal and Re-Enactment) Bill, 2024, into law.

This came after separate considerations by the Senate and the House of Representatives of the report of the Committee on Tertiary Institutions and TETFund.

With the new law, the president pledged that no Nigerian, regardless of social status, would be excluded from obtaining quality education and opportunity to build his/her future.

The act, popularly known as the Students Loan Law, also established the Nigerian Education Loan Fund, to process all loan requests, grants, disbursement, and recovery.

According to Adebogun, the president had so far demonstrated commitment in ensuring equal opportunity and hope for every Nigerian child.

“Let me start by formally commending President Bola Tinubu, for his numerous achievements,  since assuming office as the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria.

“Going further, I will like to add that the new Student Loan scheme is a transformative step toward ensuring sustainable higher education and skill development for Nigerian students. 

“This bill, signed into law by President Tinubu, is expected to provide a much-needed financial lifeline to students and enable them to pursue their academic dreams, without the burden of immediate financial constraints,” he said. 

While also commending the president in other various reforms, the educationist added that  the new retirement age for judges in the judicial sector, which was now 70 years, was another step in the right direction.

He added that the bill, titled “Constitution of the Federal Republic of Nigeria, 1999 (fifth altercation), (No. 37) bill, 2023” was the first to be assented to, by the president.

“Harmonizing the retirement age of judges is a move to maintain experienced legal minds within the judicial system, which would result in quality and timely delivery of justice.

“Also, worthy of mention is the economic reforms initiated by the current administration.

“These reforms, which aim to set Nigeria on a path of accelerated economic growth with a focus on productivity and ease of doing business, have already shown early signs of impressive growth,

with the Minister of Finance reporting a significant increase in foreign direct investment and a boost in job creation.

“Similarly, the significantly increased allocation to state governments, which provides states with more resources to address local challenges and development projects, are worthy of commendation,” Adebogun said.

The educationist added that said the administration’s efforts in the various sectors of the economy have improved its standing on the global stage and contributed to the strengthening of the naira against the dollar and other major currencies.

“My recognition of these achievements  underscores the positive impact of President Tinubu’s policies on the educational landscape and the broader socio-economic development of Nigeria,” he added.