The Nigerian Education Loan Fund (NELFUND) has announced plans to introduce a centralised job portal for student loan beneficiaries by 2026, aimed at enhancing access to employment opportunities within and outside Nigeria. Although the agency clarified that it does not guarantee jobs, it said the platform will serve as a bridge between students and potential employers
Speaking during a media engagement in Abuja to mark one year of the loan scheme, NELFUND’s Managing Director, Akintunde Sawyerr, said the portal will collate job listings from both public and private sectors, including international employers open to recruiting Nigerian graduates.
“We don’t just give a loan and leave students on their own. This job portal is our way of supporting their journey towards economic stability,” Sawyerr said.
He reiterated that loan repayment will only begin after the beneficiary has completed the National Youth Service Corps (NYSC) programme and secured employment. Once employed, 10 percent of the beneficiary’s monthly income will be deducted and remitted directly to NELFUND through employer verification.
Sawyerr added that deductions will be paused if a beneficiary is laid off or resigns, and the loan will be written off in the event of death, with no burden placed on the family.
On the issue of delayed refunds to students who had already paid their fees before NELFUND disbursed funds to their institutions, Sawyerr urged affected schools to promptly refund the students. He stressed that it was both a moral and professional obligation.
“We’ve received multiple petitions from students who paid under duress only to find their fees had also been paid by NELFUND. Institutions must refund this money. It’s disappointing that some schools have ignored this responsibility,” he said.
He noted that anti-corruption agencies like the ICPC and EFCC are now investigating some of the erring institutions. Where direct refunds to students are not possible, Sawyerr advised schools to return the funds to NELFUND for redistribution to the rightful beneficiaries.
Also speaking, Mustapha Iyal, Executive Director of Operations at NELFUND, said the agency is managing over 3.2 million student records and is projecting about one million new applications before the end of 2025. He emphasised that the target is not compulsory but aligns with NELFUND’s mission to ensure no student drops out due to financial hardship.
“What we’re looking at this year is how we can support one million applications to make sure that no one is dropping out of school,” he stated.
