The Federal Government has begun the disbursement of ₦10 million interest-free loans under the Tertiary Institutions Staff Support Fund (TISSF).
At the official launch held at the Federal University of Technology, Akure (FUTA), the Minister of Education, Tunji Alausa, described the event as a major milestone in President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritised human capital development and educational excellence.
Alausa explained that the TISSF offers zero-interest loans of up to ₦10 million, capped at one-third of an applicant’s annual gross salary, to support housing, healthcare, transportation, and small business ventures.
He revealed that over 9,000 academic and non-academic staff across 219 federal and state institutions have started receiving offer letters and payments, with more than 400 beneficiaries already credited.
He urged beneficiaries to ensure timely repayment, noting that the revolving scheme depends on repayment discipline to sustain future disbursements.The Minister added that transparency, accountability, and quarterly monitoring will guide implementation to ensure the initiative’s long-term success.
Minister of State for Education, Professor Suwaiba Sa’id Ahmad, hailed the TISSF as “a visionary and transformative welfare programme designed to stabilise the education system by improving staff motivation and professional growth.”
