The Federal Government has launched the Tertiary Institutions Staff Support Fund, a landmark welfare and empowerment initiative for academic and non-academic staff in Nigeria’s tertiary institutions.
In a statement issued by the Minister of Education, Dr. Maruf Tunji Alausa, on Friday, the fund was described as a direct response to the welfare and professional growth needs of the nation’s tertiary institution workforce.
The minister stated, “It gives me great pleasure to officially launch a landmark initiative that speaks directly to the heart of our commitment to the welfare and professional growth of our nation’s tertiary institution workforce — the Tertiary Institutions Staff Support Fund (TISSF).
“TISSF is not just a welfare package; it is a strategic empowerment platform designed to give our academic and non-academic staff the financial stability they need to serve our students with renewed dedication, and to live with dignity and pride.
“It is an integral part of President @officialABAT, GCFR’s Renewed Hope Reform Agenda for Education, which places our people — our greatest asset — at the centre of transforming our education sector and growing our economy.”
According to the minister, TISSF is a joint initiative of the Federal Ministry of Education and the Tertiary Education Trust Fund, implemented in partnership with the Bank of Industry.
“It is a free, 0% interest loan scheme aimed at enhancing welfare, supporting career development, and promoting financial independence for staff in Nigerian tertiary institutions,” he said.
On the benefits of the scheme, Alausa stated: “What do staff get? Up to ₦10 million (capped at 33.3% of gross annual salary) — repayable after 5 years, with a 12-month moratorium before repayment begins.”
Punch/Toyosi Eniola
