Federal Government Launches N10m Loan Fund Each for Staff of Tertiary Institution
- The Federal Government has unveiled the Tertiary Institution Staff Support Fund (TISSF) to uplift the welfare and career prospects of Nigeria’s tertiary education personnel
- Staff of universities, polytechnics, and colleges of education will be eligible for loans up to ₦10 million for essential needs and entrepreneurial ventures
- Stakeholders have lauded the scheme as a timely and strategic move to boost morale and drive institutional performance
Abuja, FCT - The federal government of Nigeria has officially launched the Tertiary Institution Staff Support Fund (TISSF), a loan initiative aimed at strengthening the welfare and professional development of both academic and non-academic staff in the nation’s tertiary institutions.
In a press statement released by Folasade Boriowo, Director of Press at the Federal Ministry of Education, the fund was introduced during a high-level stakeholder engagement session held in Abuja on Sunday.
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According to the ministry, staff of universities, polytechnics, and colleges of education across Nigeria would now be eligible to access loans of up to ₦10 million, capped at 33.3 per cent of their gross annual salary.
The initiative allows beneficiaries to use the loan for transportation, medical support, and micro-enterprise ventures, including poultry farming.
TISSF designed to empower education workforce
Minister of Education, Dr Tunji Alausa, reportedly stated during the unveiling that the programme represents a strategic move to revitalise the education sector.
He was quoted as saying:
“TISSF is not just about welfare. It is about empowerment. We are ensuring that our education workforce is supported to live well, grow professionally, and continue contributing meaningfully to institutional excellence.”
He added that the scheme is centred on promoting financial stability, enhancing quality of life, and supporting career advancement for staff across Nigeria’s tertiary institutions.
Bank of Industry to manage disbursement process
The Federal Ministry revealed that the implementation of TISSF would be in partnership with the Bank of Industry.
The institution has been tasked with managing the disbursement process to uphold transparency, accountability, and operational efficiency.
Minister of state for education, Suwaiba Sa’id Ahmad, stated that the programme was the outcome of extensive consultations with staff unions, institutional leaders, and other key stakeholders in the education sector.
Stakeholders praise loan scheme as timely
Representatives from the Tertiary Education Fund, Bank of Industry, vice-chancellors, rectors, and provosts reportedly attended the launch event.
According to the ministry, they collectively expressed strong support for the fund, describing it as a vital initiative for improving staff morale and enhancing institutional performance nationwide.
A monitoring and evaluation framework has reportedly been embedded within the programme’s structure to ensure continuous tracking and long-term success.
APC chieftain hails Tinubu's achievements in education
Meanwhile, an All Progressives Congress (APC) member, Obidike Chukwuebuka, said President Tinubu’s administration has taken bold steps to expand access to higher education in Nigeria.
According to Obidike, over 500,000 students across various higher institutions are benefiting from the student loan scheme introduced under Tinubu’s leadership. He added that the initiative is easing the financial burden on students and promoting mass literacy.
The APC chieftain also highlighted the accreditation of new universities under the current administration, which he said has widened the space for academic enrollment and created more opportunities for young Nigerians to pursue meaningful education.
"In education, Mr. President introduced the student loan scheme, which has benefited over 500,000 students across higher institutions, Obidike told Legit.ng in an exclusive chat.
"The accreditation of new universities by the current administration has widened the space for more students to gain meaningful education, which in turn brings about mass literacy.
"Mr. President recently made available about 100 billion naira to selected federal universities across Nigeria to close the infrastructure gap."
President Tinubu assumed office in May 2023 and has since launched several initiatives aimed at revitalising Nigeria’s education system.
FG to educate 80 million non-literate Nigerian youths, adults
In a related development, the federal government has officially launched the Accelerated Basic Education (ABE) programme aimed at delivering literacy to nearly 80 million young and adult Nigerians who currently lack access to basic education.
At the national stakeholders engagement meeting in Abuja, held recently, minister of state for education, Professor Suwaiba Ahmad, represented by her Special Assistant, Technical, Dr Claris Ujam, announced the initiative.
The ABE programme, she explained, is built to reach learners across all six geopolitical zones by offering inclusive, adaptable, and impactful literacy solutions without sacrificing quality.
Legit.ng's head of politics and current affairs desk, Nurudeen Lawal, contributed the APC member Obidike Chukwuebuka's reaction to this report.
Source: Legit.ng
