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NELFUND to Launch Portal Linking Student Loan Beneficiaries to Employers by 2026

The Nigerian Education Loan Fund (NELFUND) has announced plans to launch a national job portal by 2026 aimed at connecting student loan beneficiaries with employment opportunities across public and private sectors, both within and outside Nigeria. Managing Director of NELFUND, Mr. Akintunde Sawyerr, made this known during a media briefing in Abuja, stating that the platform is part of ongoing efforts to ensure the sustainability of the student loan initiative. He explained that the job portal would serve as a central point where verified job listings would be made accessible to graduates who have benefited from the student loan scheme, helping them transition more easily into the workforce. Sawyerr emphasized that while the portal would not guarantee jobs, it would aggregate employment opportunities that could improve graduates' chances of securing work, thereby supporting the loan repayment process. Under the terms of the student loan scheme, repayment only begins after a beneficiary has completed the mandatory National Youth Service Corps (NYSC) and secured employment. At that point, 10 percent of the beneficiary’s monthly salary is automatically deducted by the employer and remitted to NELFUND. If a borrower becomes unemployed or resigns from their job, repayments are suspended until they are re-employed. In cases of death, the loan is written off. Since the commencement of the scheme, NELFUND has disbursed over ₦73.2 billion to more than 396,000 students across 206 federal institutions. The agency currently manages over 3.2 million student records and expects an additional one million applicants before the end of 2025. The job portal is part of NELFUND’s broader strategy to strengthen the education-financing ecosystem and ensure that graduates are not left stranded after school. The agency is also exploring partnerships with local companies and international employers to expand the range of opportunities available on the platform. Education stakeholders have expressed optimism over the development, describing it as a proactive measure that could address graduate unemployment and improve loan recovery. NELFUND reaffirmed its commitment to supporting students throughout their academic journey and beyond, ensuring that financial constraints do not hinder access to quality education.

 

khadijat opeyemi

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