The Federal Government has launched the Tertiary Institution Staff Support Fund, TISSF, a welfare initiative offering up to N10 million in interest-free loans to academic and non-academic staff of universities, polytechnics, and colleges of education.
This was made known on Thursday by Sunday Dare, one of the spokespersons for President Bola Tinubu.
Dare said the initiative, announced on Thursday, by the Minister of Education, Dr Tunji Alausa, is aimed at enhancing staff welfare, supporting professional development, and promoting financial independence.
The Presidential spokesman explained that beneficiaries can access loans with a maximum repayment period of five years, including a one-year moratorium.
Dare, citing the minister, said the funds could be used for transportation, small-scale agro-businesses, medical expenses, family support, accommodation, and academic advancement.
Alausa described the TISSF as another evidence of Renewed Hope in action and a demonstration of President Bola Tinubu’s commitment to education, similar to the Nigeria Education Loan Fund, NELFUND, for students.
The TISSF is a key component of the National Education Sector Renewal Implementation, NESRI, framework and will be implemented with strict monitoring measures to ensure transparency and effectiveness.
