FG disburses N3.7bn loan to lecturers, non-academic staff

The Federal Government has disbursed N3.7bn in zero-interest loans to 2,000 lecturers and non-academic staff across universities, polytechnics and colleges of education under its Tertiary Institutions Staff Support Fund (TISSF).

The Director of Press at the Ministry of Education, Folasade Boriowo, confirmed the development on Monday, noting that beneficiaries were drawn from 43 federal institutions nationwide.

According to her, the government is committed to providing direct financial support to staff in the tertiary education sector.

“The Ministry confirms the successful disbursement of N3.7bn to an estimated 2,000 beneficiaries, reflecting the government’s resolve to inject direct support into the tertiary education workforce,” she said.

Boriowo also revealed that academic staff accounted for 17 per cent of the beneficiaries, while non-academic staff made up 83 per cent.

She added that the male-to-female ratio stood at 83 per cent to 17 per cent, and assured that efforts would be made to boost female participation in subsequent rounds.

Launched in August 2025, the TISSF offers zero-interest loans of up to N10m—subject to one-third of a staff member’s annual gross salary—to support housing, medical care, transportation, small businesses and professional development.

Minister of Education, Dr. Tunji Alausa, described the initiative as a key pillar of President Bola Tinubu’s Renewed Hope Agenda.

He said the fund is being implemented by the Ministry of Education in collaboration with TETFund and the Bank of Industry.

“TISSF is more than just a financial intervention; it is a tangible expression of the Federal Government’s appreciation for the backbone of our education system.

By swiftly disbursing these funds, we are keeping our promise to enhance the welfare, productivity and dignity of our staff, thereby strengthening our institutions for the future,” he said.