NELFUND to Launch Job Portal That'll Connect Beneficiary to Employers

The Nigerian Education Loan Fund (NELFUND), the government initiative initiated to provide interest-free loans to eligible Nigerian students pursuing higher education, said it'll create a centralized job portal in 2026 for students who benefitted from the student loans so that they can get employment opportunities both within Nigeria and internationally.

The initiative said they are not just giving loans to students; they'll also make sure that they try their best to help students get jobs and start the repayment of their loans. Meanwhile, this development is not only aimed at recovering their loans back but also part of a larger strategy aimed at strengthening the effectiveness of the student loan program and helping graduates achieve financial self-sufficiency.

Although the agency made it clear—when the Managing Director Akintunde Sawyerr was speaking during a media engagement in Abuja to mark one year since the loan scheme was launched—that it does not guarantee jobs, the promised unified job portal will only be built to support graduates’ transition into the labor market.

Sawyerr explained that the portal is designed to bring together job opportunities from both the public and private sectors, along with international employers seeking to hire Nigerian talent. He emphasized that the goal isn't merely to provide loans but to actively support students in building a stable financial future, with the job portal serving as a key part of that commitment.

No Employment, No Repayment

At the event, Sawyerr reassured Nigerians that student loan repayment will not be initiated until beneficiaries have completed their National Youth Service Corps (NYSC) and have secured employment. "If you don’t have a job, you don’t pay. And when you eventually get a job, your repayment starts fresh," he said.

Repayment of the loan begins once the beneficiary secures employment, with 10 percent of their monthly salary automatically deducted by the employer and sent to NELFUND after verification through its employment register. If the individual loses their job or resigns, the deductions are paused, and in the unfortunate event of the borrower’s death, the loan is written off—the family members will not face any financial pressure or harassment.

Nigerian Schools Refund Duplicate Payments to Student

The agency also addresses the ongoing issues regarding some students who paid fees before the NELFUND disbursements reached their schools. The agency said, "We’ve received multiple petitions from students who paid under duress, only to find their fees had also been paid by NELFUND." In this case, Sawyerr said it's the institution's responsibility to refund affected students.

“Institutions must refund this money. It’s disappointing that some schools have ignored this responsibility,” he said. While he said that, he also noted that they've raised investigative bodies like the ICPC and EFCC to intervene in the matter and question institutions that refuse to refund students.

He also suggested that if any institution is finding it difficult to refund students, such institution can pay back the funds to NELFUND, and the agency will ensure it gets to the rightful student. What do you think about this latest NELFUND development? Is it a good idea, or are they just doing it to recover their loan in the near future? Let's hear your own opinions in the comment section.