Academic work-based learning (WBL) has an over a century-long history in Nigeria. The current WBL programs are the Students' Industrial Work Experience Scheme (SIWES) and the Graduate Internship (GI). They are sponsored by the federal government with the aim to improve employment outcomes. However, there is still a gross mismatch between the skills of graduates and the demands of employers. This study analyzes why the WBL programs in Nigeria have yet to be successful and suggests alternatives. The analysis reveals a dysfunctional job placement process as a primary barrier and suggests consolidating the SIWES and GI into one school-to-work program, based upon the Graduate Employability Skill Development (GESD) model, along with strategies to improve the development, management, and quality assurance of placement. The article concludes by underscoring the integration and effective management of WBL at all levels of education, including continuing education as an important and realistic approach that Nigeria should strive for to attain appreciable development.