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National Assembly Passes Education Bank Bill, Seeks to Provide Interest-Free Loan to Students

Nigeria seeks to establish a structured education bank to provide student loans and support students

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The Nigerian Senate has passed the student loan establishment bill to support Nigerian students and parents/guardians going through tough times.

The bill which was sponsored by the Speaker of the House of Representatives, Hon Femi Gbajabiamila was passed by the lower chamber earlier this year.

The proposed legislation titled ‘Bill for an Act to provide for easy access to higher education for Nigerians through interest-free loans from the Nigerian Education Bank’ seeks to provide interest-free loans to Nigerian students in the higher institutions within the county. 

Investors King learnt that with senate concurrence,  a clean copy would be produced and transmitted to President Muhammadu Buhari for assent. 

If signed by the president, the bill will see to the establishment of the Nigerian Education Bank which shall have powers to supervise, coordinate, administer and monitor the management of student loans in Nigeria. 

Additionally, the Nigerian Education Bank will have the mandate to receive applications from students through their respective institutions of learning. The body “Nigerian Education Bank” will also have the power to screen applicants and administer loans to those who met the laydown requirements. 

Without prejudice to gender, religion, tribe, position or disability of any kind, the bill shall ensure that all Nigerian students have equal rights to access the loan. 

While commenting on the bill, the House speaker, Hon Femi Gbajabiamila noted that the bill will ameliorate the hardship being faced by Nigerian students especially those who come from low-income families. 

He added that the legislation will also promote and enhance education among the youth by making it easy to study. 

“A well-educated citizenry was critical to the nation’s development and its ability to compete in the global economy” he noted. 

Although Investors King can not ascertain the requirements to access the loan, sources closer to the development however revealed that the major criteria is to be a student in any of the higher institutions of learning in Nigeria be it a University, Polytechnic or Monotechnic. 

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Nigeria Immigration Service Launches New Passport Renewal Mobile App, Issues Registration Guidelines

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The Nigeria Immigration Service (NIS) said it has created a Mobile Application for individuals to renew their International Passports from the comfort of their homes without necessarily visiting its offices.

The agency, in a video information watched by Investors King, which it posted on its X handle on Thursday night, disclosed that those who applied for passport renewal online get them delivered to their homes and other addresses they have chosen.

The management of the agency stated that the digital innovation is part of its continued efforts to serve the Nigerian public more efficiently and create a functional system that meets global standards.

Tagged: “A New Contactless Passport Application and Issuance Process,” the Nigeria Immigration Service (NIS) said as from November 1st, 2024, individuals who apply to renew their international passport will be able to use the mobile app and carryout the registration and application procedures from the comfort of their homes without having to visit any NIS office.

“Simply visit Google Play Store on your Android, App Store on IOS, and Window Devices and check for Nigeria Immigration Service Mobile App, click on it and download. You can also visit www.passport.immigration.gov.ng on your web browser.

“After downloading the Nigeria Immigration Mobile App on your mobile device, login on to www.passport.immigration.gov.ng, on your web browser; only use the following steps to get registered and apply to renew your passport:

“Step 1: Create a profile using a valid email.

Step 2: Complete eligibility test.

Step 3: Input your NIN and current passport number

Step 4: Fill out your bio data and upload relevant supporting documents such as NIN slip, certificate of local government of origin, birth certificate, among others.

Step 5: Proceed to take your biometric using your mobile phone fingerprint.

Step 6: Review all your information.

Step 7: Then, make payments.

Step 8: Finally submit your application.

“Now wait for your passport to be available and it will be delivered to your chosen address within the stipulated timeline,” the information revealed.

The NIS further explained how the procedures for renewal would be done in phases, stating: Phase 1: Canada – Nov. 1
Phase 2: UK, USA, Italy – Nov. 15
Phase 3: Nigeria & the rest of the world – Dec. 1.”

It added, “Thanks to the renewed hope agenda of Bola Ahmed Tinubu that cares for every Nigerian where they live, work and play.

“The Nigeria Immigration Service (NIS) with the supervision of the Hon. Minister of Interior, Hon. Olubunmi Tunji-Ojo, the leadership of the Controller General, CGI Kemi Nanna Nandap, committed to improving passport application processes and making life easy for all Nigerians.

“Please note that this new application platform is for Passport Renewal Only.”

Meanwhile, individuals who reacted to the new development commended the NIS for coming up with the mobile app for international passport renewal, saying it would contribute in making the process seamless and easier.

They however suggested that the NIS management expunge upload of  supporting documents such as certificate of local government of origin and birth certificate since they have been included in the bio data earlier supplied during initial application for the passport.

One of those who commented simply identified self as @Justice_Israell, wrote: “Nigeria Immigration officers won’t like this because now they can no longer extort from citizen as every financial transaction is done online.

“I love this initiative. Nigeria immigration office is like a market place and this corruption is deeply rooted even to the officials at the top.”

“Why requesting for Birth and Local Government certificates for passport renewal? How did the person get his passport in the first place? Did they not use all these documents for first passport? This is not necessary, except you make it optional. Thank you,” another X user identified as @femoscorpion131 remarked.

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Air Peace Denies Lagos-Abuja Fare Increase to ₦200,000 Amid Viral Reports

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Air Peace has denied plans to raise fares from Lagos to Abuja from N114,000 to N200,000 following a leaked viral report.

This report, published by numerous media outlets claimed that Air Peace would raise its one-way flight fare to ₦200,000 effective November 1, 2024.

This was confirmed by a senior airline staff member who wished to remain anonymous.

The source clarified that the memo was intended for private partners but was unintentionally leaked to the public.

“Our intention was for the memo to remain strictly within our network of private partners, but it unfortunately leaked.

“Indeed, the fare review will take effect from November 1, 2024,” Nairametrics quoted the anonymous source.

The memo reads in part, “This is to inform you that our domestic fares have been reviewed.

“The new fares are effective for flights from 1st November 2024. The previous fares remain available for flights up to 31st October 2024”.

However, a statement by the airline on Saturday, October 26, has laid the rumours to rest.

Refuting the viral claim, the airline said the report was false and not from the firm.

Air Peace emphasized that any adjustment regarding the firm’s pricing will be published via its verified handles and urged Nigerians to rely on these verified channels to avoid misinformation.

The statement read, “We would like to categorically state that this information is false and did not originate from Air Peace.

“We have not released any official statement regarding a fare increase as described, and any announcements regarding our pricing would only be made through our verified channels. We encourage our valued customers and clients to rely exclusively on these platforms for accurate updates and information on fares.”

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Kogi Govt Secures FG’s Approval For International Airport Project

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Kogi State under the leadership of Governor Usman Ododo has secured the approval of the Federal Ministry of Aviation and Aerospace Development to construct an international airport in the Zariagi area of the state.

This was made known in a statement on Friday by the State Commissioner for Information and Communications, Kingsley Fanwo.

Fanwo revealed that the approval for the Kogi State International Airport which is a top priority for Governor Ododo’s government was confirmed through a letter dated October 9, 2024.

He noted that besides the potential to boost the state’s economy, the project will tackle unemployment in the state with the creation of jobs and will also push the state to the global scene.

The statement revealed that the governor expressed thanks to President Bola Tinubu and the aviation minister for approving the project which has the capacity to develop the state.

He disclosed that the aviation team sent to inspect the location of the project were satisfied. They also approved the state government’s plan regarding the project.

The Commissioner stated, “The Ododo Administration has considered it a top priority for Kogi State to have an International Airport and join the league of the aviation hub. The strategic location of the state is no doubt, an invaluable advantage in harnessing the aviation service market as the centre of the nation.

“The project will not only boost the economy of the State, it will also create jobs and bring the potential of the state to the global scene.

“The Governor is determined to hire the best hands in the industry to make the project a huge success. As you are aware, aviation is an industry of trust and standards.

“We thank President Bola Ahmed Tinubu, GCFR and the Aviation Minister for the historic approval that will help to further develop Kogi State. We want to also say that the Airport will also have capacity for Cargo as that is one of our key focuses in the project.”

“Zariagi is a very strategic community that already boasts of an airstrip. The team from the Ministry of Aviation and Aerospace Development was satisfied with the location and the plans of the Kogi State Government on the project.”

In related news, the Kogi State government on Monday, October 7 announced an immediate salary increase for civil servants in the state.

According to the governor, the new wage of N72,500 aims to help civil servants in Kogi cope with the economic hardship in the country and support families in the state.

The Governor also announced a one-year suspension of the Pay-As-You-Earn (PAYE) tax.

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