The Federal Government has unveiled the Tertiary Institutions Staff Support Fund (TISSF), an interest-free loan initiative offering up to ₦10 million to academic and non-academic staff across Nigeria’s tertiary institutions.
The programme, launched by the Honourable Minister of Education, Dr. Maruf Olatunji Alausa, CON, forms part of President Bola Ahmed Tinubu’s Renewed Hope Reform Agenda. Developed by the Ministry of Education in collaboration with the Tertiary Education Trust Fund (TETFund) and the Bank of Industry (BOI), the TISSF is aimed at enhancing staff welfare, promoting career growth, and improving financial stability within the nation’s higher education system.
Under the scheme, loans are capped at 33.3% of an applicant’s gross annual salary and can be accessed for various purposes, including:
Healthcare
Housing
Transport
Small-scale businesses
Agriculture
Academic advancement
The repayment period is five years with a one-year moratorium, giving beneficiaries ample time to stabilise financially before repayment begins.
Applications are processed on a first-come, first-served basis through a transparent and fully automated platform — https://tissf.education.gov.ng.
At the launch, key stakeholders including Hon. Abubakar H. Fulata, former Minister of Youth and Sports Mr. Sunday Dare, Dr. Olasupo Olusi of the Bank of Industry, and union representatives described the initiative as a landmark welfare intervention for Nigeria’s education workforce.
So far, 2,474 applications have been submitted, with 691 completed, 105 schools registered, and 15 bursars onboard.
The Ministry projects that the scheme will result in a 24% improvement in staff retention and a 42% boost in morale, reinforcing its commitment to building a motivated, productive, and resilient academic workforce.
