The Federal Government has commenced the disbursement of ₦10 million interest-free loans under the Tertiary Institutions Staff Support Fund (TISSF)—a landmark initiative to enhance staff welfare, motivation, and productivity across Nigeria’s universities, polytechnics, and colleges of education.
At the launch ceremony held at the Federal University of Technology, Akure (FUTA), the Honourable Minister of Education, Dr. Tunji Alausa, CON, described the initiative as a fulfilment of President Bola Ahmed Tinubu’s Renewed Hope Agenda for human capital development and educational excellence.
Dr. Alausa explained that the TISSF offers zero-interest loans of up to ₦10 million, capped at one-third of an applicant’s annual gross salary, to support housing, healthcare, transportation, and small business ventures. Over 9,000 academic and non-academic staff from 219 institutions have been approved, with more than 400 beneficiaries already credited.
He emphasized that the Fund, developed within four months under the Nigerian Education Sector Renewal Initiative (NESRI), represents the government’s appreciation for education workers and urged beneficiaries to ensure prompt repayment for sustainability.
Minister of State for Education, Prof. Suwaiba Sa’id Ahmad, described the TISSF as a visionary welfare scheme to stabilize and motivate Nigeria’s tertiary education workforce.
The Federal Ministry of Education reaffirmed its commitment to transparency, accountability, and continuous monitoring to ensure the initiative’s long-term success.
Folasade Boriowo
Director, Press and Public Relations
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