The federal government has begun the disbursement of the ₦10 million interest-free loan scheme under the Tertiary Institutions Staff Support Fund (TISSF).
Blueprint reports that this is a bold initiative to enhance staff welfare, motivation and productivity across the country’s universities, polytechnics and colleges of education.
According to a statement on Friday, signed by the Director of Press and Public Relations, Folasade Boriowo, speaking at the official launch and disbursement ceremony held at the Federal University of Technology, Akure (FUTA), the Minister of Education, Dr. Tunji Alausa, described the event as a “historic fulfilment of President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritises human capital development and educational excellence.”
Alausa said the TISSF “provides zero-interest loans of up to ₦10 million, capped at one-third of an applicant’s annual gross salary, to support housing, healthcare, transportation and small business ventures.”
He disclosed that over 9, 000 academic and non-academic staff across 219 federal and state institutions had begun receiving offer letters and payments, with more than 400 beneficiaries already credited.
He said the Fund, conceived and implemented within four months, forms part of the Nigerian Education Sector Renewal Initiative (NESRI) and reflects the administration’s resolve to translate policy into measurable impact.
Also speaking, the Minister of State for Education, Prof. Suwaiba Sa’id Ahmad, said the TISSF was a visionary and transformative welfare programme designed to stabilise the education system by improving staff motivation and professional growth.
The vice-chancellor of FUTA, Prof. Adenike Temidayo Oladiji, lauded the federal government for the initiative, describing it as “timely, visionary, and transformative.”
One of the beneficiaries, Mrs. Bola Ajayi, expressed gratitude on behalf of all recipients to President Bola Ahmed Tinubu and the Ministry for their commitment to staff welfare, describing the support as a “profound gesture of renewed hope.”
