The federal government has launched a new loan initiative, the Tertiary Institution Staff Support Fund (TISSF), aimed at improving the welfare and professional development of staff across Nigeria’s universities, polytechnics, and colleges of education.
Unveiled at a stakeholder engagement in Abuja, the fund will provide loans of up to ₦10 million for eligible academic and non-academic staff, capped at 33.3% of their gross annual salary. The loans can be used for needs such as transportation, healthcare, and small-scale businesses like poultry farming.
Director of Press and Public Relations at the Federal Ministry of Education, Folasade Boriowo, announced the initiative in a statement, describing it as a strategic intervention to enhance financial stability and boost morale in the tertiary education workforce.
Minister of Education, Dr. Maruf Alausa, said the programme aligns with President Bola Tinubu’s Renewed Hope Agenda and emphasized that it goes beyond welfare. “TISSF is not just about welfare. It is about empowerment,” he said. “We want our education professionals to live well, grow, and continue delivering excellence.”
The Bank of Industry will manage the disbursement of the fund, ensuring transparency and accountability, according to Boriowo.
Key stakeholders, including the senior special assistant to the president on student engagement, the executive secretary of TETFund, and heads of tertiary institutions, expressed strong support for the initiative, calling it a critical step toward improving staff motivation and performance nationwide.
The Ministry of Education reaffirmed its commitment to collaborate with stakeholders for the successful implementation of the fund and to build a resilient and empowered education workforce.
