{"id":71476,"date":"2025-07-27T18:25:46","date_gmt":"2025-07-27T18:25:46","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=71476"},"modified":"2025-07-27T18:25:46","modified_gmt":"2025-07-27T18:25:46","slug":"fg-unveils-%e2%82%a610-million-loan-program-for-tertiary-institution-staff","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2025\/07\/27\/fg-unveils-%e2%82%a610-million-loan-program-for-tertiary-institution-staff\/","title":{"rendered":"FG Unveils \u20a610 Million Loan Program for Tertiary Institution Staff"},"content":{"rendered":"<p><strong>By Samuel Adeola <\/strong><\/p>\n<p><span class=\"citation-75\">The Federal Government has launched the <\/span><b><span class=\"citation-75\">Tertiary Institution Staff Support Fund (TISSF)<\/span><\/b><span class=\"citation-75\">, a new loan program designed to offer up to <\/span><b><span class=\"citation-75\">\u20a610 million<\/span><\/b><span class=\"citation-75 citation-end-75\"> to eligible staff members across Nigerian universities, polytechnics, and colleges of education.<\/span> <span class=\"citation-74 citation-end-74\">This initiative aims to significantly boost the welfare, financial stability, and career progression of both academic and non-academic personnel nationwide.<\/span><\/p>\n<p><span class=\"citation-73\">Minister of Education, <\/span><b><span class=\"citation-73\">Dr. Tunji Alausa<\/span><\/b><span class=\"citation-73 citation-end-73\">, officially announced the fund in Abuja during a key stakeholder engagement session on Thursday, July 24, 2025.<\/span> A statement released by the Ministry\u2019s spokesperson, <b>Folasade Boriowo<\/b>, emphasized that the TISSF is a vital component of President Bola Tinubu\u2019s <b>Renewed Hope Agenda<\/b>, seeking to reposition the nation&#8217;s tertiary education sector.<\/p>\n<p><span class=\"citation-72\">The scheme, which will be managed by the <\/span><b><span class=\"citation-72\">Bank of Industry (BOI)<\/span><\/b><span class=\"citation-72 citation-end-72\">, is designed to ensure &#8220;transparency, accountability, and effective delivery.&#8221;<\/span> <span class=\"citation-71\">Staff members can access loans capped at <\/span><b><span class=\"citation-71\">33.3% of their gross annual salary<\/span><\/b><span class=\"citation-71 citation-end-71\">, with permissible uses including transportation, medical support, and investment in small-scale businesses such as poultry farming.<\/span><\/p>\n<p>\u201cThis is not just about welfare. It is about empowerment,\u201d Dr. Alausa stated, highlighting the broader vision behind the fund.<\/p>\n<p>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. <span class=\"citation-70 citation-end-70\">All pledged their support for the smooth implementation of what they described as a timely intervention.<\/span><\/p>\n<p>The Ministry of Education assured continued collaboration with all stakeholders to cultivate &#8220;a more resilient, motivated, and empowered education workforce,&#8221; reinforcing the government&#8217;s commitment to enhancing the well-being of those at the forefront of Nigeria&#8217;s tertiary education system.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Samuel Adeola The Federal Government has launched the Tertiary Institution Staff Support Fund (TISSF), a new loan program designed to offer up to \u20a610 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 [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":71477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[183,172],"tags":[59],"class_list":["post-71476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-education","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/71476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/29"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=71476"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/71476\/revisions"}],"predecessor-version":[{"id":71478,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/71476\/revisions\/71478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/71477"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=71476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=71476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=71476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}