Femi Gbajabiamila, Chief of Staff to the President, affirms that the Students’ Loan Application system currently in development will not involve intermediaries. During his lecture titled “Empowering Nigerian Youths in the Present Day Economy” at the 35th convocation ceremony of Yaba College of Technology (YABATECH), Gbajabiamila disclosed that efforts are underway to launch the scheme in January 2024, allowing Nigerian students to access loans for their educational pursuits.
He outlined the online application process, stating that applicants will apply, be verified, and credited based on the documents and credentials submitted. Emphasizing equality, he assured that no personal connections would be necessary for loan qualification. Gbajabiamila acknowledged the student loan system’s role in funding quality public tertiary education but stressed the need for a broader discussion on addressing the funding needs of public tertiary institutions.
According to Gbajabiamila, investing in education is essential, not only in physical infrastructure but also in technology hardware and software for information exchange and innovation. He highlighted the changing nature of work and productivity measurement in the current world, emphasizing the competition students face globally and against technology, including Artificial Intelligence, blockchain, and financial technology tools.
Gbajabiamila called for a review of curricula and teaching methods to align practices with global labor needs. He stressed the importance of collaboration between higher institutions and the private sector to engage, research, and bridge knowledge gaps. Gbajabiamila concluded that addressing the challenges of the new age and adapting to changing realities requires collective efforts beyond government initiatives.
