The Nigerian Education Loan Fund (NELFUND) is set to launch a centralised job portal by 2026 to help Nigerian student loan beneficiaries secure employment both within and outside the country.
NELFUND’s Managing Director, Akintunde Sawyerr, made this known during a media engagement in Abuja to commemorate one year of the student loan scheme.
He stressed that while the agency does not guarantee jobs, the portal will serve as a robust platform for linking graduates with both domestic and international employment opportunities.
“We don’t just give a loan and leave students on their own,” Sawyerr said. “This job portal is our way of supporting their journey towards economic stability.”
Why It Matters
According to Sawyerr, the platform will aggregate job listings from public institutions, private employers, and global organisations interested in hiring Nigerian talent.
Sawyerr reaffirmed that repayment of student loans would not begin until a beneficiary has secured employment and completed the mandatory 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.
“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.”
Sawyerr also clarified that deductions cease if the individual is laid off or resigns.
“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.
Understanding Nigerian Student Loan Refunds and Institutional Obligations
A major concern has emerged, where students, under pressure to meet deadlines, paid their fees directly to institutions before NELFUND disbursements arrived. In such cases, Sawyerr said, schools are bound to refund the affected students.
“We’ve received multiple petitions from students who paid under duress, only to find their fees had also been paid by NELFUND,” he explained. “Institutions must refund this money. It’s disappointing that some schools have ignored this responsibility.”
He added that anti-corruption agencies such as the EFCC and ICPC have started investigating certain institutions over delays and refusals to issue refunds.
Is Expanding the Loan Scheme Necessary?
According to Mustapha Iyal, Executive Director of Operations, the Fund is currently managing records for over 3.2 million students, with expectations of one million additional applications by the end of 2025.
“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, he stated.
“But we’re looking at how we can support one million applications to make sure that no one is dropping out of school.”
According to experts, NELFUND’s latest plans represent a major step toward integrating education, employment, and economic self-reliance in Nigeria.
While challenges remain, experts say the agency’s expanding mandate signals a progressive shift in how educational support is being envisioned in Nigeria’s future.
Talking Points
It is encouraging to see NELFUND taking a holistic approach by not only providing financial aid but also preparing Nigerian student loan beneficiaries for life after graduation.
This move reflects a deeper understanding of the challenges Nigerian student loan beneficiaries face, particularly the transition from school to the workforce.
By aggregating local and international job listings and working with public and private sector employers, the platform could significantly enhance job access for thousands.
At Techparley, we believe such efforts are vital for meaningful impact. Supporting Nigerian student loan beneficiaries through job access tools and ensuring repayment only begins after employment is a responsible model.
If implemented effectively, this could redefine educational support in Nigeria, making it not just about funding, but about sustainable economic empowerment.
