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In a bid to improve the outcomes of its student loan programme and ease the transition of graduates into the workforce, the Nigerian Education Loan Fund (NELFUND) has unveiled plans to introduce a centralised job portal by 2026.
The initiative, aimed at linking student loan beneficiaries with employment opportunities both within Nigeria and abroad, was announced during a media engagement in Abuja to mark the first anniversary of the student loan scheme.
Speaking at the event, NELFUND Managing Director, Akintunde Sawyerr, explained that although the agency does not guarantee employment, the job portal will serve as a strategic platform to support beneficiaries’ career prospects.
“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,” Sawyerr said.
According to him, the portal will consolidate job listings from both the public and private sectors, as well as international organisations seeking to hire skilled Nigerian graduates.
Sawyerr also clarified that repayment of the student loan would only begin once beneficiaries have completed their National Youth Service Corps (NYSC) and secured gainful employment.
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“If you don’t have a job, you don’t pay. And when you eventually get a job, your repayment starts fresh,” he said.
He further explained the repayment mechanism, noting that once a beneficiary is employed, 10 per cent of their monthly income would be automatically deducted by the employer and remitted to NELFUND, after verification through the agency’s employment register.
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