By Hassan Musa
The federal government, Thursday, officially unveiled the Tertiary Institutions Staff Support Fund (TISSF) for staff of tertiary institutions, including federal universities, polytechnics and colleges of education and selected state-owned tertiary institutions.
Speaking at the lunch, Minister of Education, Dr. Tunji Alausa, said the Fund will ensure a N10m interest-free loan for successful applicants, which will be repaid in five years, with a 12-month moratorium.
He said through the TISSF, beneficiaries will have access to financing for medical support, transportation, vehicle purchase, small-scale enterprise and agriculture and academic advancement, including professional certifications, degrees and capacity-building programmes.
He said: “This programme is not just a welfare package, it is a strategic empowerment platform designed to give our academic and non-academic staff the financial stability they need to serve our students with renewed dedication and to live with dignity and pride.
It is an intergral part of President Bola Ahmed Tinubu’s Renewed Hope Reform Agenda for Education, which places people, our greatest asset at the centre of transforming our education sector and growing our economy.
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. It is a 0% interest loan scheme aimed at enhancing welfare, supporting career development, and promoting financial independence for staff in Nigerian tertiary institutions.
The fund responds to the economic pressures and professional development gaps faced by our staff. Studies show that over 70% of tertiary institution staff in Nigeria have not participated in structured capacity-building programmes in the last five years. TISSF is here to change that.
The TISSF is open to confirmed full-time academic and non-academ