The Nigerian Education Loan Fund (NELFUND) has announced plans to unveil a centralised job portal by 2026 aimed at giving student loan beneficiaries early access to employment opportunities both locally and internationally EduTimes Africa gathered.
Speaking during a media engagement in Abuja to mark the scheme’s one-year anniversary, NELFUND’s Managing Director, Akintunde Sawyerr, clarified that while the agency cannot guarantee jobs, the portal would serve as a bridge to potential employers across public and private sectors, as well as international recruiters seeking Nigerian talent.
“We don’t just disburse loans and abandon students. This job portal is part of our support mechanism to help beneficiaries transition into economic stability,” Sawyerr explained.
He reiterated that loan repayment would only begin once a beneficiary has secured employment, starting after their National Youth Service Corps (NYSC). According to him, 10% of a beneficiary’s monthly income would be automatically deducted by their employer and remitted to NELFUND, following verification through its employment register. Deductions will cease if the individual resigns, is laid off, or in the event of death—where the loan is written off entirely.
Addressing concerns raised by students who had paid their tuition before NELFUND’s disbursement, Sawyerr urged institutions to refund such payments. He noted the agency had received several petitions from affected students and stressed that schools have a moral and professional responsibility to return the funds.
“It’s disappointing that some institutions have failed to do the right thing. If schools are unable to refund directly to students, they can return the funds to NELFUND, and we’ll ensure the rightful recipients are reimbursed,” he said.
The Independent Corrupt Practices Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) have reportedly begun questioning some institutions over their refusal or delay in processing these refunds.
In his remarks, NELFUND’s Executive Director of Operations, Mustapha Iyal, revealed that over 3.2 million student records are currently being managed by the Fund. He added that NELFUND is projecting at least one million new applications by the end of 2025.
“Our goal is to ensure that no student drops out due to financial constraints. We’re not imposing a target, but we are positioning ourselves to support up to one million applicants this year,” Iyal said.
The job portal and other support initiatives are part of NELFUND’s broader commitment to not only make education accessible but to also empower Nigerian youth with opportunities that ensure long-term sustainability.
EduTimes Africa, a product of Education Times Africa, is a magazine publication that aims to lend its support to close the yawning gap in Africa's educational development.