Federal government has launched a loan fund to support staff of tertiary institutions.
The fund, known as the ‘Tertiary Institution Staff Support Fund,’ is designed to enhance the welfare and professional development of academic and non-academic staff of universities, polytechnics and colleges of education.
Each academic and non-academic staff will be eligible to receive up to N10million, capped at 33.3 percent of their gross annual salary.
Eligible uses include transportation, medical support and micro-enterprise ventures such as poultry farming.
This was disclosed in a statement by the Director of Press, Federal Ministry of Education, Folasade Boriowo, on Sunday.
The statement said the initiative was unveiled during a high-level stakeholder engagement session held in Abuja.
The Minister of Education, Dr Tunji Alausa was quoted as stating that the fund was part of the administration’s broader effort to reposition tertiary education in the country.
The statement reads, “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 to contribute 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 tertiary institutions.”
The programme will be implemented in partnership with the Bank of Industry, which will manage the disbursement process to ensure transparency, accountability and effective delivery.
The Minister of State for Education, Suwaiba Ahmad was quoted as stating that the programme was developed through extensive consultation with staff unions, institutional leaders and other key stakeholders.
The statement also noted that a robust monitoring and evaluation framework had been embedded to track progress and ensure the long-term success of the fund.
Stakeholders at the launch include representatives from the Tertiary Education Fund, Bank of Industry, vice-chancellors, rectors and provosts, who were said to have expressed strong support for the initiative.
They described it as timely and essential for boosting staff morale and improving performance across tertiary institutions.
