The Federal Government of Nigeria (FGN) has launched a loan scheme to support staff of tertiary institutions. The scheme known as the Tertiary Institution Staff Support Fund (TISSF) is created to improve the welfare and professional development of academic and non-academic staff in universities, polytechnics, and colleges of education.
This was made known on Sunday by the Minister of Education, Dr. Tunji Alausa, in a statement issued by the ministry’s Director of Press and Public Relations, Mrs. Folasade Boriowo.
According to the statement, each staff member is eligible to receive up to N10 million, capped at 33.3% of their gross annual salary.
The statement added, “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.
“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 reports, the TISSF will be managed in collaboration with the Bank of Industry (BOI) and is part of the Nigerian government’s efforts to improve and strengthen the tertiary education sector.