The Nigerian Education Loan Fund (NELFUND) is developing a centralised job portal to provide beneficiaries with early access to employment opportunities in Nigeria and abroad.
According to the Managing Director, Akintunde Sawyerr, the portal will aggregate job listings from the public and private sectors, as well as international employers interested in recruiting Nigerians. This initiative is set to commence in 2026.
Sawyerr emphasised that NELFUND’s goal is to support students’ journey towards economic stability, not just provide loans. He highlighted that students will only begin repayment after securing employment, following their National Youth Service Corps (NYSC) scheme.
The repayment terms are designed to be flexible, with 10% of the beneficiary’s monthly income deducted automatically by the employer and remitted to NELFUND. If a beneficiary loses their job or resigns, the deductions will stop. In the event of death, the loan will be written off, and the family will not be harassed.
Sawyerr also addressed the issue of students who had paid their fees before NELFUND disbursed to their institutions. He appealed to institutions to return these fees to the students, citing a moral and professional duty to do so. Some institutions have been slow to refund, prompting investigative bodies like the ICPC and EFCC to step in.
Looking ahead, the Executive Director of Operations, Mustapha Iyal, stated that NELFUND is currently managing over 3.2 million student records and projects one million new applications by the end of 2025.
The goal is to ensure that no student drops out due to financial hardship. Iyal emphasized that the target is not compulsory, but rather a way to support as many students as possible. With this initiative, NELFUND aims to make a significant impact on education and employment in Nigeria.
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