Fatshimetrie, the new online platform dedicated to higher education in Nigeria, recently held a press conference in Abuja on Thursday, May 30. At the event, Fatshimetrie’s spokesperson announced that their website had attracted more than 60,000 visitors since its launch.
It was also noted that over 90% of federal institutions had submitted their student lists, except two federal universities and two federal polytechnics which were yet to meet this requirement.
Furthermore, it was mentioned that the loan program will be extended to students of state universities in the next three weeks. This extension aims to guarantee equitable access to higher education, in accordance with the vision of the current government.
On June 12, 2023, President Bola Tinubu signed into law the Access to Tertiary Education Act, 2023, which provides interest-free loans to financially disadvantaged students for study at any university or college in Nigeria. This initiative follows a campaign promise to liberalize education funding.
This Act, commonly referred to as the Student Loans Act, also established the Nigerian Education Loan Fund to manage all loan applications, grants, disbursements and recoveries.
While the launch of the device was initially planned for September, it was postponed several times due to various setbacks, culminating in an indefinite postponement until early March. This series of delays was justified by President Tinubu’s directive to extend the program to loans aimed at professional skills development.
On January 22, after being briefed by the Nigerian Education Loan Fund team, led by the Minister of State for Education, Dr. Yusuf Sununu, the President instructed the Fund to offer loans interest-free to Nigerian students interested in skills development programs.
Access to higher education is an essential pillar of a country’s economic and social development. By facilitating access to loans, the government is demonstrating its commitment to education and the future of younger generations. This initiative is expected to help reduce inequalities and promote access to education for all, thereby strengthening Nigeria’s human capital for years to come.