President Bola Tinubu has described Nigeria’s student loan policy as a mechanism to combat corruption by addressing the root causes of corrupt practices in the country.
Speaking during a presidential media chat on Monday night, Tinubu highlighted the interconnectedness of equitable policies and the fight against corruption, emphasizing his administration’s focus on systemic solutions.
When asked if anti-corruption is a key governance priority, Tinubu explained that tackling the underlying drivers of corruption, such as economic hardship and lack of access to social amenities, is as critical as enforcing laws against corrupt practices.
“Corruption, in all its ramifications, is bad. But first, you must pay enough attention to its causes,” Tinubu said. “Why are the people corrupt? Lack of social amenities, lack of funding for their children’s education.
There are so many anti-corruption mechanisms that you can put in place to help the people not be corrupt. Pay them good living wages.”
He cited his administration’s move to increase the minimum wage from ₦35,000 to ₦70,000 as an example of a preventive anti-corruption measure.
Additionally, Tinubu pointed to efforts to boost transparency in government revenue through monthly publications and equitable distribution of funds to states and local governments.
Highlighting the importance of education in fostering an equitable society, Tinubu said the new student loan policy is part of his administration’s strategy to fight corruption.
The policy, which aims to provide interest-free loans to students in federal tertiary institutions, was first introduced in June 2023 but faced delays before being re-enacted in April 2024.
“Our student loan is part of anti-corruption,” Tinubu stated. “No parent should lament how to encourage their children in university education. Today, it’s working for a larger part of the population. The society is moving from illiteracy to literacy.”
He added that creating opportunities for young Nigerians to access education without financial burden reduces the need for families to resort to desperate or unethical means to fund their children’s schooling.
Tinubu also highlighted the role of the Economic and Financial Crimes Commission (EFCC) in uncovering inefficiencies and plugging systemic loopholes that enable corruption. “The ability to stem corruption is part of the instrument of the EFCC.
That is why they are discovering all sorts of inefficiencies in the system, blocking all the loopholes where anybody can just game the system,” he said.
Furthermore, he described the removal of fuel subsidies as an anti-corruption measure aimed at redirecting public funds towards developmental priorities.
As Tinubu’s administration continues its anti-corruption drive, the president reaffirmed his commitment to education reform, economic transparency, and policies that uplift Nigerians’ living standards.
By tackling the causes of corruption, Tinubu hopes to create a society where the need for corrupt practices is minimized, thereby fostering accountability, growth, and development.