The loan would be paid back after the person is employed. If what I watched about it is through, the loan payment will be spread over years, probably in a way that will be convenient for the borrower.

But I agree with you about the issue of unemployment. But it is good to have education than to remind illiterate.  If we are not literates, we will not be on this forum to engage in world discussion about bitcoin and cryptocurrencies in general. Also in making money, there are many Nigerians that do not rely on government and private jobs today. Online jobs in Nigeria has increased and education helps too. So, student is better than nothing at all.

What I see about this is if the federal government will continue this, because inflation persistent in Nigeria and naira do devalues. In short, what I am implying is that the amount of naira borrow will be higher in value than the amount that will later be paid because of inflation and naira devaluation.