FG Unveils ₦10 Million Loan Scheme for Tertiary Institution Staff
The Federal Government has announced the launch of a new welfare initiative aimed at improving the livelihoods and professional development of staff across Nigeria’s tertiary institutions. Known as the Tertiary Institution Staff Support Fund (TISSF), the programme offers academic and non-academic staff members access to loans of up to ₦10 million, capped at 33.3 per cent of their gross annual salary.
The announcement was made on Sunday in Abuja through a statement issued by the Director of Press and Public Relations at the Federal Ministry of Education, Mrs. Folasade Boriowo. She noted that the initiative was officially introduced during a high-level stakeholder engagement session held in the nation’s capital.
Minister of Education, Dr. Olatunji Alausa, who unveiled the scheme, said TISSF aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda and forms part of the broader efforts to reposition Nigeria’s tertiary education sector.
“TISSF is not just about welfare. It is about empowerment,” Dr. Alausa stated. “We are ensuring that our education workforce is supported to live well, grow professionally, and continue contributing meaningfully to institutional excellence.”
According to the Minister, the welfare-focused loan programme is designed to enhance financial stability, quality of life, and career advancement for all categories of staff in universities, polytechnics, and colleges of education. He explained that funds accessed under the scheme could be used for purposes such as transportation, healthcare, and small-scale business ventures, including poultry farming.
The disbursement of the loans will be handled by the Bank of Industry (BOI), a strategic partner in the programme, to guarantee transparency, accountability, and efficiency in the loan administration process.
Speaking at the event, Minister of State for Education, Professor Suwaiba Sa’id Ahmad, underscored the inclusive approach adopted in the design of the initiative. She revealed that the programme emerged from extensive consultations with staff unions, institutional leaders, and other relevant stakeholders.
“This reflects our commitment to inclusive, participatory policymaking and results-driven implementation,” she said, adding that a comprehensive monitoring and evaluation mechanism is in place to track the impact and ensure long-term success.
Key education sector stakeholders present at the event including the Senior Special Assistant to the President on Student Engagement, Hon. Sunday Asefon; the Executive Secretary of TETFund, Arc. Sonny Echono; and heads of tertiary institutions—hailed the initiative as a bold and timely intervention that would boost morale and performance among staff.
Mrs. Boriowo, in her statement, reaffirmed the Ministry’s commitment to working closely with all stakeholders to ensure the effective roll-out of the TISSF and to build a more resilient and motivated education workforce across Nigeria.
