The Federal Government has commenced the disbursement of ₦10 million interest-free loans to staff of universities, polytechnics, and colleges of education under the Tertiary Institutions Staff Support Fund (TISSF).
The initiative, launched at the Federal University of Technology, Akure (FUTA), aims to enhance the welfare and productivity of academic and non-academic personnel across Nigeria’s tertiary institutions.
Minister of Education, Dr. Tunji Alausa, said the programme is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda and is designed to promote human capital development and educational excellence.
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According to the minister, the interest-free loans—capped at one-third of an applicant’s annual gross salary—will support housing, healthcare, transportation, and small business ventures. Over 9,000 staff from 219 tertiary institutions have been approved, while more than 400 have already received payments.
Alausa noted that the TISSF was developed within four months under the Nigerian Education Sector Renewal Initiative (NESRI) and urged beneficiaries to ensure prompt repayment to sustain the programme.
Minister of State for Education, Prof. Suwaiba Sa’id Ahmad, described the initiative as a “visionary welfare intervention” aimed at stabilizing and motivating Nigeria’s education workforce.
The Ministry of Education reaffirmed its commitment to transparency and accountability in managing the fund, saying monitoring mechanisms have been put in place to ensure its long-term success.
