Key Points

• The tertiary institution staff support fund grants up to ₦10 million interest-free loans.

• The tertiary institution staff support fund targets both academic and non-academic workers nationwide.

• The tertiary institution staff support fund supports staff welfare, training, and financial stability.

The Federal Government has officially started giving out money from the Tertiary Institution Staff Support Fund (TISSF), a program that helps workers in Nigeria’s public tertiary institutions with their finances.

The goal of the initiative, which was started as part of President Bola Ahmed Tinubu’s Renewed Hope Agenda for Education, is to improve the health and productivity of both academic and non-academic staff at universities, polytechnics, and colleges of education.

Dr. Yusuf Sununu, the Minister of Education, said at the flag-off ceremony in Abuja that the support fund is the government’s long-term plan to “empower and stabilise” the country’s education workforce. He said that people who qualify could get loans of up to ₦10 million with no interest, which they would have to pay back over five years, with a year of grace before payments start.

The Federal Ministry of Education, the Bank of Industry (BOI), and the Tertiary Education Trust Fund (TETFund) all work together to manage the fund.

Who can get help from the tertiary institution staff support fund and how it works

Officials from the ministry say that the fund is open to full-time staff members, both academic and non-academic, who have been with the organisation for at least five years before they retire and are members of recognised staff associations like ASUU, NASU, and SSANU. The loans are meant to help with certain needs, such as housing, transportation (especially getting electric cars and tricycles), healthcare, starting a small business, and academic development programs.

The Bank of Industry will check the applicants’ employment records and make sure they follow the rules for paying back the loan. The government has stressed the need for openness and responsibility in the loan management process. To help with this, a digital monitoring platform has been set up to keep track of payments and performance.

The tertiary institution staff support fund helps with staff training and well-being

Minister Sununu said that the TISSF will not only help Nigeria’s tertiary education system with money, but it will also help it build its capacity. He pointed out that more than 70% of academic and administrative staff have not taken part in structured training programs in the past few years. He said, “This project gives people more than just credit; it gives them power.” “It makes sure that our teachers and staff have the tools they need to provide a good education without the stress of money problems that hurt their productivity.”

Analysts of education see the fund as a good way to improve morale and keep students in Nigeria’s public colleges and universities, where strikes and salary disputes have made it hard for students to do well. However, a lot of people who are involved say that the project needs steady funding and policy stability.

Union responses and worries about policy

Many people have been happy with the rollout, but some labour unions are cautiously hopeful. The National Association of Academic Technologists (NAAT) and the Academic Staff Union of Universities (ASUU) both asked if a loan-based program could really help with deeper welfare issues.

Prof. Emmanuel Osodeke, the president of ASUU, said that the government should pay off all of its unpaid wages and benefits before starting new credit programs. He said, “We are worried that loans are not a substitute for fair wages.”

Dr. Tanko Sununu, the Minister of State for Education, said again that the program does not replace existing obligations but rather adds to them. He said that the support fund is “a long-term solution that promotes financial independence while negotiations with staff unions continue.”

As money starts to flow to federal institutions, the tertiary institution staff support fund is becoming one of the most ambitious welfare programs in Nigeria’s higher education system. Whether it has a measurable effect will depend on how well it is carried out, how open the oversight is, and how well the government can align welfare reform with its other education funding goals.