The Federal Government has unveiled the Tertiary Institution Staff Support Fund (TISSF), a new loan initiative designed to provide academic and non-academic staff in Nigerian universities, polytechnics, and colleges of education with financial support of up to ₦10 million.

 

The scheme, launched during a stakeholder engagement session in Abuja, aims to improve the welfare, financial stability, and career development of staff across the nation’s tertiary institutions.

 

According to a statement by the Minister of Education, Dr. Tunji Alausa, and signed by Folasade Boriowo, Director of Press and Public Relations at the Ministry, the TISSF will be managed in partnership with the Bank of Industry, which will oversee transparent and accountable disbursement of funds.

 

Each eligible staff member will have access to loans capped at 33.3% of their gross annual salary, and the funds can be used for purposes such as transportation, medical care, and small-scale businesses like poultry farming.

 

Dr. Alausa emphasized that the initiative is part of President Bola Tinubu’s Renewed Hope Agenda, aimed at repositioning the education sector. “TISSF is not just about welfare. It is about empowerment,” he said.

 

The launch was well-received by key stakeholders including the Senior Special Assistant to the President on Student Engagement, the Executive Secretary of TETFund, the Managing Director of the Bank of Industry, as well as Vice Chancellors, Rectors, and Provosts. They hailed the scheme as timely, morale-boosting, and a game changer for staff productivity and institutional excellence.

 

The Ministry of Education pledged to continue working with all stakeholders to ensure effective implementation of the fund and build a resilient, motivated, and empowered education workforce across Nigeria.