The chairperson of the Federal University of Technology, Minna chapter of the Academic Staff Union of Universities, Prof Gbolahan Bolarin, has kicked against the student loan bill signed by president Bola Ahmed Tinubu.
In an interview with our correspondent in Abuja, Bolarin, described the law as “dead on arrival.”
He said, “The problem in Nigeria is that we copy policies from other countries and want to replicate them in our country without considering the situation here. Where are the jobs in Nigeria? There are graduates from over 20 years ago who are still jobless. Now the thing about this scheme is that as you repay, another person gets access to the loan.
“Now that the scheme will provide N1m per year, suppose a student comes to FUTMinna and stays for five years. That means you will receive N5m; what is the guarantee that you will get a job to pay it back? As of today, the minimum wage is N30, 000. Is it feasible?
“From the beginning, ASUU fought against it because of these issues. There are no two ways about it; this scheme is not going to be sustainable. You can see universities hiking fees, more universities will do this because governing councils of schools are looking for ways to fund schools; before you know it, the level of enrolment in public universities will be reduced.”
Also, an education activist, Ayodamola Oluwatoyin, who spoke to our correspondent in Abuja, noted that such a law cannot be effective in Nigeria.
She said, “I am very concerned about the repayment options. In Nigeria, graduates have issues getting jobs after graduation; we are also in a country where the conditions are not favourable for business.
“It is a good policy because it will truly allow access to university education again with the recent hike in school fees but it may not work well in Nigeria.”
