By Esohe Aifuwa
FG Unveils Loan Scheme to Boost Tertiary Staff Welfare
The Federal Government has introduced a new loan initiative to improve the well-being and professional growth of workers in Nigeria’s tertiary institutions.
The Tertiary Institution Staff Support Fund (TISSF), which targets both academic and non-academic staff in universities, polytechnics, and colleges of education, offers financial support to enhance their quality of life of these workers.
The program which was launched during a stakeholder meeting in Abuja, where key education leaders gathered to discuss its implementation, was revealed on Sunday by the Director of Press at the Federal Ministry of Education, Folasade Boriowo, where she noted that the scheme allows eligible staff to access loans up to N10 million, limited to 33.3 percent of their annual gross salary.
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The Minister of Education, Dr. Tunji Alausa emphasized the fund’s role in transforming tertiary education. “This initiative goes beyond financial aid, it empowers our educators and staff to thrive while driving excellence in our institutions,” he said. The scheme, managed by the Bank of Industry, ensures transparent and efficient disbursement of funds.
Furthermore, the Minister of State for Education, Suwaiba Sa’id Ahmad, highlighted that the program was shaped through dialogue with staff unions and institutional heads, while noting that a monitoring system will track its progress to ensure sustained impact.
Several Representatives from the Tertiary Education Fund, including vice-chancellors, rectors, and provosts praised the initiative, calling it a vital step to boost staff morale and performance across Nigeria’s higher institutions.