Federal Gov’t Disburses ₦13bn Interest-free Loans To 7,450 Tertiary Institution Workers

The Federal Government has disbursed over ₦13 billion in interest-free loans under the Tertiary Institutions Staff Support Fund (TISSF) to 7,450 academic and non-academic staff across 153 public tertiary institutions nationwide in the 2025/2026 academic cycle.

The intervention, implemented by the Federal Ministry of Education and administered by the Bank of Industry (BoI), was part of President Bola Tinubu’s Renewed Hope Agenda aimed at improving welfare and productivity in the education sector.

According to a statement issued on Friday by the Ministry’s Director of Press and Public Relations, Boriowo Folasade, the scheme provides up to ₦10 million in interest-free loans per eligible staff member to cushion financial pressures and enhance wellbeing.

“The intervention, one of the largest staff welfare initiatives in Nigeria’s education sector, underscores the commitment of President Bola Ahmed Tinubu, to improving the welfare, financial wellbeing, and productivity of education workers under the Renewed Hope Agenda,” the statement read.

It added: “Established by the Federal Ministry of Education and administered by the Bank of Industry (BOI), TISSF provides interest-free loans of up to N10 million to eligible staff of public universities, polytechnics, and colleges of education.

“The facility is designed to support beneficiaries in addressing personal and professional needs while enhancing their overall wellbeing.”

President Tinubu, according to the ministry, reaffirmed his administration’s commitment to investing in human capital across Nigeria’s tertiary institutions.

“He noted that through the TISSF, the Federal Government is easing financial pressures on education workers, improving livelihoods, and strengthening the workforce responsible for shaping Nigeria’s future.”

The Minister of Education, Dr. Tunji Alausa, said the programme remained a critical component of ongoing reforms in the sector.

Alausa described the initiative as central to improving staff welfare and institutional performance, stressing that no education system can succeed without investing in its workforce.

“According to the minister, no education system can outperform the people who sustain it. He stressed that ongoing investments in infrastructure, technology, skills development, research, and institutional reforms must be complemented by practical measures that improve staff welfare and quality of life,” the statement noted.

He further added that the successful completion of the 2025/2026 phase reflects strong demand and growing impact across institutions nationwide.

Since the disbursement began on October 28, 2025, over 42,000 applications had been processed through the scheme’s digital platform, with beneficiaries spread across all six geopolitical zones.

Universities accounted for 52 per cent of disbursements, while colleges of education and polytechnics recorded 25 per cent and 23 per cent, respectively.

The ministry also disclosed that female beneficiaries  of the interest-free loans accounted for 19 per cent of recipients, noting plans to intensify sensitisation and improve participation in the next phase.

“Applications for the 2026/2027 phase of the Tertiary Institutions Staff Support Fund will officially open at the end of June 2026. Eligible academic and non-academic staff are encouraged to engage with their institutions’ bursary departments and monitor official Ministry communication channels for application guidelines and further details,” the statement added.

The Federal Government said it remained committed to strengthening welfare systems in tertiary institutions and ensuring sustained investment in education, research, innovation, and national development.