Gbajabiamila Seeks Education Bank, Loans For Nigerian Students

Hon. Femi Gbajabiamila, Speaker of the House of Representatives, has proposed the creation of an Education Bank to provide interest-free loans to students at higher institutions, making education more accessible to all.

He also advocated for the establishment of a Students Loan Scheme in the country.

On Monday, he made the remarks during the University of Lagos’ 52nd convocation lecture.

The presentation’s title was “Building Back Better: Creating a New Framework for Tertiary Education in Nigeria in the Twenty-First Century.” In this regard, he claimed to have voted in favor of a law called Students Loans in the National Assembly (Access to Higher Education Bill).

“The bill sets to provide interest- free loans to students. The repayment of these loans shall commence two years after the completion of the National Youth Service Corps Scheme. However, we must all understand that public support for any such system will depend significantly on the tertiary institutions themselves.

“The Ninth House of Representatives has education as one of its key areas of focus in its legislative agenda. We have for instance taken active steps to upgrade many of our public institutions, elevating some colleges of education to universities of education among others,” he said.

He called the current system of institutions relying on government subsidies and allocations insufficient and out of date.

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He argued for a synergy between academics and businesses, comparable to what is currently being done in advanced countries with beneficial results.

While the Speaker did not claim that money is a major issue in Nigeria’s education system, he did say that building a circular that would assist in producing graduates who are ready for the global market was a top concern.

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He argued for a synergy between academics and businesses, comparable to what is currently being done in advanced countries with beneficial results.

While the Speaker did not claim that money is a major issue in Nigeria’s education system, he did say that building a circular that would assist in producing graduates who are ready for the global market was a top concern.

He continued by saying that the world has changed and that the United States must work hard to avoid slipping behind.

“For Nigerian citizens to thrive in this new world, participate fully and productively in the new global economy and benefit from irather than be consumed by the technological advancements that are changing our world, tertiary education in Nigeria must be prepared to embrace reinvention and adapt to disruption, ” he stated.

The Supreme Court’s Justice Amina Adamu Augie, who presided over the event, said today’s adolescents must strive to be leaders and experts in their fields.

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She disliked the behavior of some parents cutting corners in order for their children to reach intellectual heights they could not justify or sustain.

Senator Dr Lanre Tejuoso, Pro-Chancellor of UNILAG, praised education as a leveler and a way of reaching greatness in life.

The institution’s Vice Chancellor, Prof. Toyin Ogundipe, said the university was always up to the task because it was the first public university to go online when the COVID-19 outbreak hit the country.

Source: Nyscinfo

Updated: January 20, 2022 — 1:02 pm

The Author

Stephen Adoga

Stephen Adoga is a trained journalist, researcher, creative writer, content creator, video editor and freelancer. He studied Mass Communication at the Lagos State Polytechnic, Ikorodu, where he acquired requisite training for the practice of journalism. He loves the media. His interest mostly lies in the print medium where his creative writing skill makes him a perfect fit.

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