The Federal Government has unveiled a new financial initiative, the Tertiary Institution Staff Support Fund (TISSF), aimed at improving the welfare and career development of staff in universities, polytechnics, and colleges of education across Nigeria.
This was announced in a statement issued on Sunday in Abuja by Mrs Folasade Boriowo, Director of Press and Public Relations at the Federal Ministry of Education.
According to Boriowo, the Minister of Education, Dr. Tunji Alausa, introduced the programme as a comprehensive support scheme designed to benefit both lecturers and non-academic personnel in higher institutions.
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He described the initiative as a “welfare-focused loan scheme that promotes financial stability, improves quality of life, and supports career advancement for staff across Nigeria’s tertiary institutions.”
Alausa noted that under the new scheme, each eligible staff member could access loans of up to N10 million, provided the amount does not exceed 33.3 percent of their gross annual salary.
“Eligible uses include transportation, medical support, and micro-enterprise ventures such as poultry farming,” he added.
The fund will be administered in collaboration with the Bank of Industry, which will oversee disbursement to ensure transparency and accountability throughout the process.
Alausa emphasized that the initiative aligns with President Bola Tinubu’s broader plans to transform Nigeria’s tertiary education landscape.
“TISSF is not just about welfare. It is about empowerment,” he said.“We are ensuring that our education workforce is supported to live well, grow professionally, and continue contributing meaningfully to institutional excellence,” the minister stated.