He also appealed to President Tinubu to extend this loan to students in Diaspora, while noting that many Nigerian studying overseas are suffering to meet up with their school fees.
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The bill, which scaled first, second, and third readings in both parliamentary sittings, became law on Wednesday.
He said with the scheme, industrial action by staff unions of tertiary institutions would become a thing of the past.
The Moshood Abiola Polytechnic Abeokuta Muslim Alumni (MAPAMA) has hailed the directive by President Bola Tinubu on the Student Loan scheme take off.
Tinubu made the directive last week in Abuja.