Prof. Gbolahan Bolarin, the chairperson of the Academic Staff Union of Universities (ASUU) at the Federal University of Technology, Minna, strongly criticized the students loan bill that was recently signed into law by President Tinubu.
Expressing his disapproval, the academic don argued that the law lacks feasibility as it fails to consider the unique circumstances of Nigeria. He emphasized that Nigeria has its own set of challenges and simply replicating initiatives from other countries without accounting for these realities is a flawed approach.
Prof. Bolarin further pointed out the inherent difficulties that may arise from the implementation of the loan scheme. He raised concerns about the high unemployment rate among graduates and the inadequacy of the minimum wage, which could make it challenging for students to repay the loans they obtain.
From the outset, ASUU opposed the bill due to its lack of feasibility and sustainability. Prof. Bolarin stated unequivocally that the scheme is “dead on arrival,” implying that it is destined to fail.
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