The Federal Government has unveiled a new financial initiative aimed at enhancing the welfare and career development of staff in universities, polytechnics, and colleges of education across the country.
Known as the Tertiary Institution Staff Support Fund (TISSF), the programme was announced in a statement on Sunday by the Director of Press and Public Relations at the Federal Ministry of Education, Mrs. Folasade Boriowo.
According to the statement, the Minister of Education, Dr. Tunji Alausa, said the initiative is a comprehensive welfare scheme tailored to benefit both academic and non-academic staff in Nigeria’s tertiary institutions.
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Describing the fund as a “welfare-focused loan scheme,” the minister explained that it is designed to promote financial stability, improve quality of life, and support the professional growth of education sector personnel.
Under the scheme, each eligible staff member can access loans of up to N10 million, provided the amount does not exceed 33.3 percent of their gross annual salary. The loans can be used for purposes such as transportation, medical expenses, and small-scale ventures like poultry farming.
The initiative will be managed in collaboration with the Bank of Industry, which will be responsible for disbursing the funds and ensuring transparency and accountability throughout the process.
“TISSF is not just about welfare. It is about empowerment,” Alausa said. “We are ensuring that our education workforce is supported to live well, grow professionally, and continue contributing meaningfully to institutional excellence.”
The minister also noted that the initiative aligns with President Bola Ahmed Tinubu’s broader vision for transforming Nigeria’s tertiary education system.
