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Home»Education»Nigeria launches ₦10m loan scheme for tertiary staff
Education

Nigeria launches ₦10m loan scheme for tertiary staff

NewsdeskBy NewsdeskOctober 31, 2025Updated:October 31, 2025No Comments2 Mins Read
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The Federal Government has commenced the disbursement of funds under the Tertiary Institution Staff Support Fund (TISSF), an initiative aimed at strengthening staff welfare, institutional productivity, and innovation across Nigeria’s tertiary education system.

This was disclosed in a statement issued in Abuja on Friday by the Director of Press and Public Relations, Federal Ministry of Education, Mrs. Folasade Boriowo.

According to Boriowo, the Minister of Education, Dr. Tunji Alausa, described the initiative as part of President Bola Tinubu’s Renewed Hope Agenda focused on improving the welfare and efficiency of the nation’s higher education workforce.

Dr. Alausa stated that the programme had moved from the planning stage to full implementation, with over 9,000 staff members of tertiary institutions receiving payments in the first year.

He noted that the figure represents 28 percent of the 33,000 verified applicants drawn from 219 federal and state tertiary institutions across the country.

The minister explained that the first phase of disbursement covered both academic and non-academic staff in a 30:70 ratio, reflecting the government’s inclusive approach to supporting all categories of personnel in tertiary institutions.

“The President is delivering for our tertiary institutions — for welfare, for productivity, and for the future,” Alausa said.

“Within just four months, payments have started. This is a President that delivers, and the Ministry of Education is profoundly grateful for his continuous support and commitment to staff welfare.”

Alausa further emphasized that the initiative goes beyond financial aid, describing it as an investment in the nation’s knowledge economy.

“This Fund is not merely about disbursement; it is about restoring dignity, rewarding dedication, and rebuilding the foundation of our knowledge economy,” he added.

He reaffirmed the Ministry’s commitment to transparency and accountability, pledging quarterly financial reporting, institutional engagement, and robust monitoring mechanisms to ensure effective utilization and timely repayment of funds, thereby expanding access for future beneficiaries.

The TISSF, launched in August 2025 following a high-level stakeholder engagement in July, is a key component of the Nigerian Education Sector Renewal Initiative (NESRI).

The programme is designed to enhance morale, performance, and institutional excellence across the tertiary education sector.

Under the scheme, eligible staff can access up to ₦10 million in zero-interest concessionary loans to meet essential livelihood and productivity needs, including housing, healthcare, education, transportation, and small business ventures.

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