The Federal Government of Nigeria has introduced the Tertiary Institution Staff Support Fund (TISSF), a strategic initiative designed to boost the welfare and career development of staff working in universities, polytechnics, and colleges of education across the country.
With this new initiative, eligible academic and non-academic staff can now access loans of up to ₦10 million to meet critical needs such as transportation, medical expenses, and small business ventures like poultry farming. The loan amount is capped at 33.3% of an individual’s gross annual salary, ensuring responsible borrowing.
Empowering Nigeria’s Education Workforce
Unveiled during a stakeholder meeting in Abuja, the scheme was presented by Dr. Tunji Alausa, Minister of Education. He emphasized that the fund is more than just a welfare package; it is a tool for empowerment. “TISSF is about equipping our education workforce to live better, grow professionally, and contribute meaningfully to institutional development,” Dr. Alausa noted.
According to the Ministry of Education, the programme is geared toward improving financial stability, enhancing staff wellbeing, and supporting long-term career growth across Nigeria’s tertiary education sector.
Transparent Disbursement Through the Bank of Industry
The Bank of Industry (BoI) has been appointed to manage the loan disbursement, ensuring transparency, accountability, and efficiency. The scheme’s rollout follows extensive consultations with education unions, institutional leaders, and other stakeholders.
Minister of State for Education, Suwaiba Sa’id Ahmad, highlighted that the fund reflects the government’s commitment to addressing the real needs of its educators through sustainable support systems.
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Stakeholders Welcome the Initiative
Key figures from the Tertiary Education Trust Fund (TETFund), BoI, as well as vice-chancellors, rectors, and provosts were present at the launch. They described the TISSF as a timely intervention that will uplift morale and drive productivity within Nigeria’s tertiary institutions.
To ensure long-term impact, the programme includes a robust monitoring and evaluation system that will track performance and guide future improvements.
