The Nigerian Education Loan Fund (NELFUND) has unveiled plans to launch a centralized job portal by 2026 to connect student loan beneficiaries with job opportunities both within and outside the country.
The initiative, according to NELFUND, is aimed at enhancing the impact of the student loan scheme and helping graduates transition into financial independence.
Speaking at a media engagement in Abuja to mark one year since the loan scheme began, NELFUND Managing Director, Mr Akintunde Sawyerr, explained that the agency’s goal is to support graduates beyond loan disbursement.
“We don’t just give a loan and leave students on their own. This job portal is our way of supporting their journey toward economic stability,” he said.
Sawyerr noted that the platform will aggregate job listings from government agencies, private sector organisations, and international employers willing to recruit Nigerian graduates. While NELFUND cannot guarantee jobs, he stressed that the portal will make job-hunting easier for beneficiaries.
He reiterated that loan repayment will only commence after beneficiaries secure employment, starting after the completion of the National Youth Service Corps (NYSC) programme.
“If you don’t have a job, you don’t pay. And when you eventually get a job, your repayment starts fresh,” he said.
According to him, employers are required to deduct 10 per cent of a beneficiary’s monthly income and remit it directly to NELFUND, after verification via the Fund’s employment register.
“In cases where a beneficiary is laid off or resigns, deductions stop. And if the beneficiary passes away, the loan is cancelled entirely. We don’t pursue the family,” Sawyerr clarified.
On complaints from students who paid tuition before NELFUND disbursed funds to their schools, the managing director urged institutions to refund such payments.
“Schools have a moral and professional duty to return these fees. We’ve received multiple petitions from students who paid under duress, only to later discover their fees had already been settled by NELFUND,” he said.
