FG Introduces Interest-Free Loan Scheme for Tertiary Institution Staff
Abuja – The Federal Government has launched the Tertiary Institutions Staff Support Fund (TISSF), an interest-free loan programme offering up to ₦10 million for academic and non-academic staff across Nigeria’s universities, polytechnics, and colleges of education.
The scheme was announced on August 14, 2025, by the Minister of Education, Dr. Maruf Olatunji Alausa, CON, as part of President Bola Ahmed Tinubu’s Renewed Hope Reform Agenda. Developed in partnership with TETFund and the Bank of Industry, TISSF is designed to help staff improve their welfare, support career growth, and achieve greater financial stability.
Loan Details and Application Process
Staff who qualify can access loans of up to 33.3% of their gross annual salary, repayable over five years, with a one-year grace period before repayments begin. The funds may be used for healthcare, housing, transportation, small businesses, agriculture, or further education.
Applications are open on a first-come, first-served basis through the official portal — tissf.education.gov.ng — with the entire process fully automated for transparency.
Strong Early Interest
Since its launch, the programme has already recorded 2,474 applications, 691 completed submissions, 105 registered institutions, and 15 participating bursars.
Education stakeholders, including Hon. Abubakar H. Fulata, Mr. Sunday Dare, Dr. Olasupo Olusi, and several union leaders, described the fund as an important step in improving staff welfare and reducing the rate of skilled professionals leaving the sector.
The Ministry estimates the programme could lead to a 24% increase in staff retention and a 42% improvement in morale, reflecting the government’s aim to build a more motivated and productive academic community.