The Federal Government has started the disbursement of the ₦10 million interest-free loan scheme under the Tertiary Institutions Staff Support Fund (TISSF), aimed at improving staff welfare, motivation, and productivity in universities, polytechnics, and colleges of education across Nigeria.
According to a statement released on Thursday and signed by the Director of Press and Public Relations, Folasade Boriowo, the Minister of Education, Dr. Tunji Alausa, announced the official launch and disbursement during a ceremony held at the Federal University of Technology, Akure (FUTA).
Dr. Alausa described the event as a historic step in fulfilling President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises human capital development and educational excellence. He explained that the TISSF provides zero-interest loans of up to ₦10 million, capped at one-third of an applicant’s annual gross salary, to support essential needs such as housing, healthcare, transportation, and small business ventures.
The Minister disclosed that over 9,000 academic and non-academic staff across 219 federal and state tertiary institutions have started receiving offer letters and payments. He added that more than 400 beneficiaries have already been credited.
He noted that the Fund, which was conceived and implemented within four months, forms part of the Nigerian Education Sector Renewal Initiative (NESRI). According to him, this reflects the administration’s commitment to translating policies into measurable impact.
“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,” Dr. Alausa said.
He called on beneficiaries to ensure timely repayment, stressing that the Fund operates as a revolving scheme that depends on repayment discipline to extend benefits to others. The Minister assured that the Ministry would maintain transparency, accountability, and quarterly monitoring to ensure the sustainability of the initiative. He added that the programme would help reposition Nigeria’s tertiary education system to become globally competitive and knowledge-driven.
The Minister of State for Education, Professor Suwaiba Sa’id Ahmad, also described the TISSF as a visionary and transformative welfare programme designed to stabilise the education system by boosting staff motivation and professional growth. She commended Dr. Alausa for championing the initiative and appreciated the Bank of Industry and other partners for their support in the Fund’s design and implementation.
“Investing in our educators is investing in the future of our nation,” she stated.
The Vice-Chancellor of FUTA, Professor Adenike Temidayo Oladiji, praised the Federal Government for what she called a timely, visionary, and transformative initiative. She commended the Ministers for reforms that have revitalised tertiary education, including separating research accounts from the Treasury Single Account (TSA) and improving access to TETFund grants.
Professor Oladiji also revealed that FUTA has been selected as a beneficiary of the ₦1 billion Commercialisation Aid Fund initiative, reaffirming the university’s commitment to innovation and national development.
One of the beneficiaries, Mrs Bola Ajayi, expressed gratitude on behalf of all recipients to President Bola Ahmed Tinubu and the Ministry of Education, describing the loan support as “a profound gesture of renewed hope.”
“The Federal Ministry of Education reaffirmed its determination to sustain the TISSF as a model of transparency, accountability, and shared progress, ensuring that every educator feels valued, supported, and empowered to shape Nigeria’s future,” the statement concluded.
