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FG Announces Loan Scheme Of N10 Million For Staff Of Universities, Polytechnics, Colleges
The Federal Government has introduced a loan scheme that enables academic and non-academic staff of Nigeria’s universities, polytechnics, and colleges of education to access up to N10 million to enhance their welfare and professional development.
The scheme, known as the Tertiary Institution Staff Support Fund (TISSF), was announced by the Minister of Education, Dr. Tunji Alausa, in a statement issued on Sunday by the ministry’s Director of Press and Public Relations, Mrs. Folasade Boriowo, and reported by the News Agency of Nigeria (NAN).
Alausa explained that the fund is aimed at promoting financial stability, improving the quality of life, and supporting career advancement for staff in the sector. Loans under the scheme will be capped at 33.3% of an applicant’s gross annual salary and can be applied towards transportation, medical expenses, or small-scale ventures such as poultry farming.
“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.
“Mrs Folasade Boriowo, Director, Press and Public Relations in the Federal Ministry of Education, disclosed this in a statement made available to newsmen in Abuja on Sunday. Boriowo said the Minister of Education, Dr Tunji Alausa, who announced the initiative, explained that both academic and non-academic staff members in tertiary institutions would benefit from the fund,” the NAN report read in part.
It added, “According to him, each academic and non-academic staff member is eligible to receive up to N10 million, capped at 33.3% of their gross annual salary.”
The programme will be managed in partnership with the Bank of Industry (BOI), which will oversee the disbursement process to ensure transparency, accountability, and effective delivery of the loans.
The TISSF is part of the current administration’s broader effort to reposition Nigeria’s tertiary education sector by boosting staff welfare, creating a stronger support system, and enabling them to contribute more effectively to institutional excellence.
The Tertiary Institution Staff Support Fund (TISSF) forms part of the Federal Government’s broader efforts to reposition the tertiary education sector and strengthen its workforce.
It comes against the backdrop of long-standing demands from unions such as ASUU and other university workers over issues including earned academic allowances and funding for public institutions.
In April 2025, the government released N50 billion to clear outstanding earned allowances for academic and non-academic staff in federal universities, reaffirming its pledge to prioritise education.
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