The Nigerian Education Loan Fund (NELFUND) has announced plans to introduce a centralised job portal by 2026 to assist student loan beneficiaries in accessing employment opportunities both within Nigeria and internationally.
This development is part of broader efforts to enhance the impact of the student loan scheme and support graduates toward financial independence.
Speaking during a media engagement in Abuja to mark one year since the loan scheme was launched, NELFUND Managing Director, Akintunde Sawyerr, stated that while the agency does not guarantee jobs, the upcoming job portal is designed to support graduates’ transition into the labour market.
Sawyerr said the portal would aggregate listings from the public and private sectors, as well as international employers interested in recruiting Nigerians.
“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,” he said
Sawyerr reiterated that student loan repayment would not commence until beneficiaries are gainfully employed and have completed their National Youth Service Corps (NYSC).
“If you don’t have a job, you don’t pay. And when you eventually get a job, your repayment starts fresh.
“Once employed, 10 per cent of the beneficiary’s monthly income is deducted automatically by the employer and remitted to NELFUND, following verification through the NELFUND employment register.
“If an employee is laid off or resigns, the deductions stop. And in the event of death, the loan is written off. The family is not harassed,” he said.
On the issue of students who paid fees before NELFUND disbursements reached their schools, Sawyerr called on institutions to uphold their responsibility and refund affected students.
“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 also noted that anti-corruption agencies have begun intervening: “Investigative bodies like the ICPC and EFCC have stepped in to question certain institutions over delays or refusals to refund.”
To ensure funds are returned appropriately, he advised: “If an institution cannot refund directly to the student, they can pay the money back to us and we will ensure it gets to the rightful student.”
Executive Director of Operations, Mustapha Iyal, revealed that the Fund is currently managing over 3.2 million student records and expects about one million new applications by the end of 2025.
“Basically, our projection right now, we have about 3.2 million students in our system.
“Basically, our projection right now, we have about 3.2 million students in our system.
“What we’re looking at this year, from now to the end of the year, we’re looking at about one million applications. We’re not pushing. We’re not saying that it’s compulsory.
“But we’re looking at how we can support one million applications to make sure that no one is dropping out of school,” he stated.
NELFUND extended its support beyond traditional academic pathways by launching a loan programme that funds vocational and technical training designed to empower Nigerian youths seeking hands-on trade skills. The scheme is set to begin its pilot phase in Enugu between late June and mid‑July 2025.
The Executive Director of Operations at NELFUND, Iyal Mustapha, emphasised that the programme would provide interest-free loans to cover training fees, transport costs tied to attending full-time technical schools, stipends for upkeep, and even tools upon completion of training
Applications will be processed through NELFUND’s portal, and once operational, applicants will be linked to designated certified vocational centres in their region.