By Samuel Adeola
The Federal Government has launched the Tertiary Institution Staff Support Fund (TISSF), a new loan program designed to offer up to ₦10 million to eligible staff members across Nigerian universities, polytechnics, and colleges of education. This initiative aims to significantly boost the welfare, financial stability, and career progression of both academic and non-academic personnel nationwide.
Minister of Education, Dr. Tunji Alausa, officially announced the fund in Abuja during a key stakeholder engagement session on Thursday, July 24, 2025. A statement released by the Ministry’s spokesperson, Folasade Boriowo, emphasized that the TISSF is a vital component of President Bola Tinubu’s Renewed Hope Agenda, seeking to reposition the nation’s tertiary education sector.
The scheme, which will be managed by the Bank of Industry (BOI), is designed to ensure “transparency, accountability, and effective delivery.” Staff members can access loans capped at 33.3% of their gross annual salary, with permissible uses including transportation, medical support, and investment in small-scale businesses such as poultry farming.
“This is not just about welfare. It is about empowerment,” Dr. Alausa stated, highlighting the broader vision behind the fund.
The initiative has garnered widespread praise from top education officials, including the Executive Secretary of TETFund, the Senior Special Assistant to the President on Student Engagement, and various heads of tertiary institutions. All pledged their support for the smooth implementation of what they described as a timely intervention.
The Ministry of Education assured continued collaboration with all stakeholders to cultivate “a more resilient, motivated, and empowered education workforce,” reinforcing the government’s commitment to enhancing the well-being of those at the forefront of Nigeria’s tertiary education system.