The Nigerian Education Loan Fund (NELFUND) has announced plans to introduce a centralized job portal aimed at helping student loan beneficiaries gain early access to employment opportunities both within Nigeria and internationally.
Speaking at a media briefing in Abuja to mark the one-year anniversary of the loan scheme, NELFUND Managing Director, Akintunde Sawyerr, emphasized that while the portal will not guarantee jobs, it will serve as a critical support tool to ease graduates’ transition into the workforce.
“We don’t just disburse loans and leave students on their own,” Sawyerr said. “This job portal is part of our broader commitment to their economic empowerment.”
The platform is expected to aggregate job listings from both public and private sectors, as well as international employers seeking Nigerian talent.
Sawyerr reiterated that loan repayments will only commence once beneficiaries have secured employment and completed their National Youth Service Corps (NYSC) program. He also clarified that 10% of a beneficiary’s monthly income would be deducted automatically for repayment once verified by the NELFUND employment register. Repayments pause in cases of job loss, and the loan is completely forgiven upon the borrower’s death.
Addressing recent student complaints, Sawyerr called on educational institutions to refund fees to students who paid out of pocket before NELFUND disbursements arrived. He noted that the EFCC and ICPC are now investigating institutions that have failed to issue refunds.
“Some schools have ignored their responsibility, and we’ve received numerous petitions from affected students. If schools can’t refund directly, they can return the money to NELFUND and we will ensure it reaches the rightful students,” he said.
NELFUND’s Executive Director of Operations, Mustapha Iyal, revealed that the Fund currently manages over 3.2 million student records and is projecting up to one million new applications before the end of 2025. The goal, he emphasized, is to ensure that no student drops out of school due to financial constraints.
“We’re not saying it’s mandatory, but we’re working to support as many students as possible,” Iyal added.
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