9,000 Employees Of Tertiary Institutions Benefit From Loan Scheme

The minister of Education, Dr Maruf Tunji Alausa, has disclosed that no fewer than 9,000 people have benefited from the Federal Tertiary Institution Staff Support Fund (TISSF) loan provided by the federal government.

Alausa said President Bola Tinubu has approved a zero-interest loan for academic and non-academic staff in Nigeria’s tertiary institutions to support their welfare further.

Speaking during the presentation of letters of approval and a ceremonial cheque to beneficiaries at the Federal University of Technology, Akure (FUTA), the Minister revealed that over 33,000 people applied to access the zero-interest loan, which can be up to N10 million.

According to him, “Over 9,000 verified staff from 219 federal and state tertiary institutions are benefiting in this first phase.”

Flanked by the Minister of State for Education, Prof. Suwaiba Said Ahmad, Alausa said that the swift execution of the program—which supports both academic personnel (30%) and non-academic personnel (70%)—”is proof that this administration is a government that keeps its word.”

Noting that the loan is more than a welfare package but a strategic national investment, Alausa assured that the federal government would build a resilient, motivated, and empowered education workforce to drive Nigeria toward becoming a true giant of the knowledge economy.

The minister said, “I personally wanted to issue these letters of approval to our beneficiaries at the Federal University of Technology, Akure, as an official kickoff, but disbursements started last week, with over 400 applicants already receiving payments in their bank accounts. The other beneficiaries can expect the same shortly, as we are focused on getting all payments out before the end of the year.”

“Our nation’s future is not in the ground, but in the intellect of our citizens. Our goal is to transform Nigeria from a resource-based economy to a knowledge-based economy. To achieve this, we must have a strong, motivated, and dignified workforce in our tertiary institutions.

“This Fund is not merely about disbursement; it is about restoring dignity, rewarding dedication, and rebuilding the foundation of our knowledge economy.

The Vice Chancellor of FUTA, Prof. Adenike Oladiji, appealed to the Minister to do everything possible to ensure that Nigerian universities remain open.

Oladiji stated, “When we received your letter on ‘no work, no pay’ after I asked the question, I realised the burden falls heavily on the Vice-Chancellor, whom you directed to implement it. We appeal, sir, that in the interest of continuing peace around us, kindly help us ensure there is no disruption to our academic calendar.