The Federal Ministry of Education has justified the increase in school fees at government-owned universities, explaining that it aims to cover the higher costs of facilities in these institutions. This comes as the House of Representatives proposed a three percent increase for student loans, rather than the initial one percent mentioned by President Bola Tinubu.
The Permanent Secretary of the ministry, David Adejo, clarified that the reported tuition fee increase was actually a rise in school charges, not tuition fees. He addressed rumors that the Students Loan Act had prompted universities to raise charges, emphasizing that these charges cover services like accommodation and power.
He also mentioned that only the University of Lagos increased charges after the act was signed, but this was halted by a House resolution and the president’s directive.
Adejo noted thag the Students Loans scheme starts in the 2023/2024 session, with a coordinating committee and technical team established to ensure implementation.
Adejo further stated that the president has established a coordinating committee, with the Chief of Staff serving as the chairman, adding that the committee comprises key entities such as the Central Bank of Nigeria, the Federal Budget Office, the Ministry of Education, the Ministry of Finance, and others.
The director of Legal Services of the Central Bank of Nigeria, Kofo Salami Alada, explained the technology-driven design of the student loan process. He also clarified that the funds would come solely from the government and discussed the process for accessing and disbursing the loan.
The committee chairman, Teseer Ugbor, highlighted the government’s aim to alleviate suffering and improve access to higher education through the student loan program, while expressing concerns about disbursement and recovery processes.
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