NELFUND to Launch Central Job Portal for Student Loan Beneficiaries by 2026

The Nigerian Education Loan Fund (NELFUND) has announced that it is developing a centralised job portal aimed at helping student loan beneficiaries gain faster access to employment opportunities within Nigeria and abroad.

The agency’s Managing Director, Akintunde Sawyerr, revealed this during a media engagement held in Abuja on Thursday to mark the first anniversary of the loan programme.

Sawyerr explained that the platform will feature job listings from both government and private-sector employers, as well as international organisations willing to hire Nigerian graduates. The initiative is expected to roll out in 2026.

According to him, the portal is part of NELFUND’s efforts to support beneficiaries beyond the loan process.

“We don’t just disburse loans and leave students to figure things out alone. This employment portal is designed to support their transition into financial independence,” he said.

He also reiterated that repayment will only begin once beneficiaries secure a job after completing their National Youth Service Corps (NYSC).

“If you don’t have a job, you do not pay. Repayment starts only when you begin earning an income,” he noted. Employers will automatically deduct 10% of the beneficiary’s monthly salary and remit it to NELFUND after verification.

Sawyerr added that deductions stop immediately if a beneficiary loses their job or resigns. In cases of death, the loan is fully written off, and the family is not contacted for repayment.

Addressing complaints from students whose schools have not refunded fees already paid before NELFUND disbursed funds to institutions, Sawyerr urged schools to return the money.

He stressed that institutions have a moral and professional obligation to refund students, and confirmed that some schools are currently being questioned by the ICPC and EFCC over delays.

“If a school cannot return the funds directly to affected students, they can refund us, and we will ensure it reaches the rightful beneficiaries,” he assured.

Speaking on future projections, NELFUND’s Executive Director of Operations, Mustapha Iyal, revealed that the agency is currently managing more than 3.2 million student records. He added that NELFUND expects up to one million new applications by the end of 2025, emphasising that the Fund aims to ensure no student drops out due to financial challenges.