The Federal Government has begun the disbursement of ₦10 million interest-free loans under the Tertiary Institutions Staff Support Fund (TISSF).The welfare initiative was aimed at boosting the motivation and productivity of staff in Nigeria’s universities, polytechnics, and colleges of education.
At the official launch held at the Federal University of Technology, Akure (FUTA), the Minister of Education, Tunji Alausa, described the event as a major milestone in President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritised human capital development and educational excellence.
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
He revealed that over 9,000 academic and non-academic staff across 219 federal and state institutions have started receiving offer letters and payments, with more than 400 beneficiaries already credited.“The TISSF is not merely a financial intervention; it is a tangible expression of government’s appreciation for the dedication of those who sustain our tertiary education system,” he said.He urged beneficiaries to ensure timely repayment, noting that the revolving scheme depends on repayment discipline to sustain future disbursements.The Minister added that transparency, accountability, and quarterly monitoring will guide implementation to ensure the initiative’s long-term success.Minister of State for Education, Professor Suwaiba Sa’id Ahmad, hailed the TISSF as “a visionary and transformative welfare programme designed to stabilise the education system by improving staff motivation and professional growth.”She lauded Dr. Alausa and acknowledged the Bank of Industry and other partners for their support, stating, “Investing in our educators is investing in the future of our nation.”FUTA Vice-Chancellor, Professor Adenike Temidayo Oladiji, commended the Federal Government for what she described as a “timely, visionary, and transformative” initiative, reaffirming the university’s commitment to innovation and national service.
