The Federal Government has launched a new financial intervention program designed to enhance the welfare and professional capacity of workers in Nigeria’s higher education sector.
The initiative, known as the Tertiary Institutions Staff Support Fund (TISSF), will provide interest-free loans of up to ₦10 million for both academic and non-academic staff of universities, polytechnics, and colleges of education.
Unveiled in Abuja on Thursday by the Minister of Education, Dr. Tunji Alausa, the scheme is part of President Bola Tinubu’s Renewed Hope Reform Agenda for education, which prioritizes human capital development as a driver of economic growth.
According to Alausa, the scheme is not just a credit facility but a tool for “workforce transformation,” with expected outcomes including improved staff morale, better retention, and enhanced institutional performance.
The loans, which will be facilitated in collaboration with the Tertiary Education Trust Fund (TETFund) and implemented by the Bank of Industry, can be accessed for various purposes such as:
- Housing and medical needs
- Transportation (including electric vehicles and CNG conversions)
- Family support and small-scale businesses
- Agriculture
- Professional development through certifications and training
Eligibility covers confirmed full-time staff of all federal tertiary institutions as well as one state-owned institution in each category per state — bringing the total to 248 institutions nationwide. Applicants must have at least five years left before retirement and must belong to recognised unions such as ASUU, NASU, COEASU, and SSANIP.
Each qualified applicant can access up to ₦10 million, subject to one-third of their annual gross salary. The loans are repayable over five years, with a one-year grace period before repayment begins.
Alausa also announced that the application portal — www.tissf.boi.ng — is now live, describing the process as “simple, secure, and efficient.”
“TISSF is more than a financial product; it is a workforce transformation tool. By easing financial burdens, we expect improvements in staff retention, a boost in morale, enhanced institutional performance, and better student outcomes,” the minister stated.
The government projects that the scheme will help create a more stable and motivated workforce across Nigeria’s tertiary institutions, thereby improving service delivery and contributing to national development.
