The Federal Government has launched the Tertiary Institution Staff Support Fund (TISSF), offering interest-free loans of up to ₦10 million to staff of tertiary institutions. The scheme covers federal universities, polytechnics, colleges of education, and one selected state-owned tertiary institution in each state.
The initiative, however, has faced opposition from key unions, including the Academic Staff Union of Universities (ASUU) and the National Association of Academic Technologists (NAAT), which have called on the government to prioritise the payment of outstanding arrears owed to members instead.
Speaking at the official launch, the Minister of Education, Dr Tunji Alausa, explained that the TISSF will provide interest-free loans repayable over five years, with a 12-month grace period before repayment begins. The facility is intended to support medical needs, transportation, vehicle purchase, small-scale businesses, agriculture, and academic advancement for beneficiaries.
“This is not just a welfare package; it is a strategic empowerment platform designed to give our academic and non-academic staff financial stability. It is part of President Bola Ahmed Tinubu’s Renewed Hope Reform Agenda for Education, which prioritises people as the key drivers of education sector transformation and economic growth,” Alausa said.
The TISSF is a joint initiative of the Federal Ministry of Education and the Tertiary Education Trust Fund (TETFund), implemented in partnership with the Bank of Industry (BoI). According to the Minister, the programme addresses economic pressures and professional development gaps, noting that over 70% of tertiary institution staff have not participated in structured capacity-building programmes in the past five years.
Eligibility for the scheme is limited to confirmed full-time academic and non-academic staff in federal institutions and one selected state institution per state. Applicants must be within at least five years of retirement and be members of relevant unions such as ASUU, NASU, COEASU, or SSANIP.
“This translates to 248 eligible institutions nationwide. Each staff member can access up to ₦10 million, subject to a limit of 33.3% of their gross annual salary,” Alausa added.
Applications will be processed through the official portal, www.tissf.boi.ng, which, he said, offers a simple, secure, and efficient process.
BoI Managing Director, Dr Olasupo Olusi, pledged to manage the fund with “integrity, transparency, and speed.” He revealed that as of the launch date, the portal had recorded 2,474 applications, with 691 completed. A total of 105 schools had signed up, while 15 bursars had created profiles on the dashboard.
“Disbursement will be on a first-come, first-served basis, and applications will strictly follow agreed eligibility criteria. The process will be fully automated to ensure efficiency and accessibility,” Olusi said.
The government has described the TISSF as a major step towards improving welfare, supporting career growth, and promoting financial independence among Nigeria’s tertiary institution staff.
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