To assist the professional growth and well-being of academic and non-academic personnel at Nigeria’s universities, polytechnics, and colleges of education, the Federal Government has launched a new loan program.
The Minister of Education introduced the program, which is called the Tertiary Institution Staff Support Fund (TISSF), with the goals of establishing financial security, raising living conditions, and fostering career advancement for employees in the field.
Under the TISSF, qualified employees can obtain loans up to N10 million, with a maximum of 33.3% of their total yearly wage. Transportation costs, medical bills, and small-scale enterprises, like poultry farming, are some of the uses for the loans.
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The Bank of Industry (BOI), which will oversee the disbursement procedure to guarantee accountability and transparency, will collaborate with the program’s implementation.
The program is a component of the administration’s larger endeavors to realign Nigeria’s higher education system. It is a reaction to persistent grievances expressed by labor unions, such as the Academic Staff Union of Universities (ASUU), on matters like unpaid benefits and insufficient funding for public institutions.
The Federal Government demonstrated its commitment to putting education and employee welfare first nationwide in April 2025 by releasing N50 billion to settle unpaid earned allowances for academic and non-academic personnel in federal universities.
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