Nigerian govt provides N10 million loan for lecturers, other workers in universities, polytechnics, colleges

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The Federal Government has introduced the Tertiary Institution Staff Support Fund (TISSF) to enhance the welfare and professional development of workers in universities, polytechnics, and colleges of education.

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The Director, Press and Public Relations in the Federal Ministry of Education, Folasade Boriowo, disclosed this in a statement made available to journalists in Abuja on Sunday.

Mr Boriowo said the Minister of Education, Tunji Alausa, who announced the initiative, explained that both academic and non-academic staff members in tertiary institutions would benefit from the fund.

The minister noted that TISSF is a welfare-focused loan scheme that promotes financial stability, improves quality of life, and supports career advancement for staff across Nigeria’s tertiary institutions.

According to him, each academic and non-academic staff member is eligible to receive up to N10 million, capped at 33.3 per cent of their gross annual salary.

“Eligible uses include transportation, medical support, and micro-enterprise ventures such as poultry farming.

“The programme will be implemented in partnership with the Bank of Industry, which will manage the disbursement process to ensure transparency, accountability, and effective delivery,” he said.

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Mr Alausa said the Fund was part of President Bola Tinubu administration’s broader effort to reposition the tertiary education sector.

“TISSF is not just about welfare. It is about empowerment.

“We are ensuring that our education workforce is supported to live well, grow professionally, and continue contributing meaningfully to institutional excellence,” Mr Alausa said.

(NAN)