Nigeria to expand education access through a student loan scheme.

Wisdom Ajah, an 18-year-old senior secondary school graduate living in Karshi, a satellite town in Nigeria's Federal Capital Territory, dreams of a university education that will secure him a good job after graduation and help support his family. But it is a distant dream considering how many obstacles he has faced trying to acquire a secondary school certificate.

Born into a poor family that can barely afford the necessities of life, Wisdom was forced to shoulder responsibilities far beyond his tender age, combining his studies with taking on manual labour at construction sites to pay his way through high school and supplement his family's meagre income.

Now engaged in menial house painting jobs, a skill he acquired at the construction sites, saving enough money to fund his university education remains a significant hurdle.

But this may be about to change, as Nigeria's federal government has recently passed a law establishing a student loan scheme aimed at providing financial assistance to individuals from poor backgrounds. Under the scheme, eligible applicants will receive up to N500,000 (approximately $650) per academic session.

Signed into law by President Bola Tinubu on 12 June, the Access to Tertiary Education Act, also known as the Student Loan Act, is expected to provide easy access to higher education for poor students through interest-free loans.

Government officials believe that the initiative will enable indigent students to access federal government loans to fund their university education, much like what happens in the United States and other developed countries.

The scheme ensures equal rights to eligible applicants to access the loan without discrimination based on gender, religion, tribe, social position, or disability.

The student loan scheme is a boon to our youths, to our students nationwide

'The student loan scheme is a boon to our youths, to our students nationwide,' said Dele Alake, the president's spokesperson.

The government is confident that students facing financial hardships, including individuals like Wisdom, who meet the set criteria, will be able to access the loan and repay over a period of 20 years interest-free.

'A typical public university student can survive effectively on a tuition fee of N250,000 ($325) per session, and an all-in-one annual loan of N500,000 ($650) can take a student through each academic year,' affirmed Dr. Dasuki Arabi, the Director-General of the Bureau for Public Sector Reform.

'With...