…Says initiative targets welfare, financial stability, and career growth
The Federal Government has rolled out a new welfare-centred loan programme for academic and non-academic staff of Nigerian tertiary institutions, with each eligible worker able to access up to ₦10 million.
Details of the initiative were contained in a statement issued by the Director of Press and Public Relations in the Federal Ministry of Education, Mrs Folasade Boriowo, and shared with journalists in Abuja on Sunday.
Minister of Education Dr Tunji Alausa, who unveiled the scheme, said the fund, known as the Tertiary Institution Staff Support Fund (TISSF), is aimed at improving the quality of life and promoting financial and professional stability for staff in universities, polytechnics and colleges of education nationwide.
He explained that the fund is intended for both welfare and empowerment, giving staff the capacity to meet essential needs such as medical treatment, transportation and micro-enterprise ventures, including poultry farming.
According to Alausa, each beneficiary may receive up to ₦10 million, limited to 33.3 per cent of their gross annual salary.
He noted that the Bank of Industry (BOI) would oversee disbursement to ensure transparency, accountability and efficient implementation.
“This is about empowerment as much as welfare. We are ensuring that our education workforce is supported to live decently, grow professionally and continue making significant contributions to institutional excellence,” the minister stated.
Alausa added that the TISSF aligns with President Bola Tinubu’s broader agenda to reform and reposition the nation’s tertiary education sector.
