Subscribe to Our Newsletter

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn't arrive within 3 minutes, check your spam folder.

Ok, Thanks

Is the Nigerian student loan a burden or a relief?

One overarching question that has been on my mind all week is: how will students in Nigeria afford to repay loans if graduates are struggling to survive? As of this year, Nigeria's unemployment rate could rise to 41%, according to KPMG, and the headline inflation rate rose to

by Emmanuel Oyedeji Yusuf Balogun
Is the Nigerian student loan a burden or a relief?
Photo by LinkedIn Sales Solutions / Unsplash

One overarching question that has been on my mind all week is: how will students in Nigeria afford to repay loans if graduates are struggling to survive?

As of this year, Nigeria's unemployment rate could rise to 41%, according to KPMG, and the headline inflation rate rose to 22.41% on a year-on-year basis in May 2023, according to the latest data from the National Bureau of Statistics.

The government's student loan bill, now a law, has raised several questions and criticisms – making it difficult for Nigerian youths to decide whether or not to apply for a study loan.

In this article, Gabriel discusses all you need to know about student loans, the banks offering student loans in Nigeria, the advantages and disadvantages of student loans, and how to apply for student loans in Nigeria.

Yusuf

Follow the rest of our coverage on Techloy.com and read the rest of the newsletter below to gain more insight into technology in emerging markets and the rest of the world.

How World Bank's investment could bring affordable and reliable internet service to Ethiopia

READ MORE
by Emmanuel Oyedeji Yusuf Balogun

Subscribe to Techloy.com

Get the latest information about companies, products, careers, and funding in the technology industry across emerging markets globally.

Success! Now Check Your Email

To complete Subscribe, click the confirmation link in your inbox. If it doesn’t arrive within 3 minutes, check your spam folder.

Ok, Thanks

Read More