Abuja, July 28, 2025 – The federal government has launched a N10 million loan support scheme for staff of tertiary institutions across the country.
Folasade Boriowo, the Director, Press and Public Relations in the Federal Ministry of Education, disclosed this on Sunday in a statement
She said the scheme, which is to promote financial stability, improve quality of life, and support career advancement for staff in tertiary institutions, was launched at a high-level stakeholder engagement session in Abuja,
The statement quoted Dr Tunji Alausa, the Minister of Education, as saying that the fund was part of the administration’s broader effort to reposition tertiary education in the country.
“We are ensuring that our education workforce is supported to live well, grow professionally and continue contributing meaningfully to institutional excellence.
“TISSF is a welfare-focused loan scheme that promotes financial stability, improves quality of life, and supports career advancement for staff across Nigeria’s tertiary institutions,” he said.
The minister said the loan scheme would provide eligible tertiary institution staff with up to N10 million to support their welfare and development.
He stressed that the scheme was designed to enhance the welfare and professional development of academic and non-academic staff in universities, polytechnics, and colleges of education.
“Each academic and non-academic staff member is eligible to receive up to N10 million, capped at 33.3 per cent of their gross annual salary.”
Suwaiba Ahmad, the Minister of State for Education, said the scheme was developed in consultation with trade unions and other stakeholders in tertiary institutions.
She said that a robust monitoring and evaluation framework had been embedded to track progress and ensure the long-term success of the scheme.
The scheme is to be implemented in partnership with the Bank of Industry.
