The Minister of Education, Tunii Alausa, says the newly introduced Tertiary Institution Staff Loan Scheme Fund (TISSF) will boost the morale and productivity of staff in the tertiary institutions.

TISSF is a scheme designed to offer interest-free loans of up to N10 million to improve the living conditions of academic and non-academic staff in tertiary institutions.

The minister stated this on Wednesday at the presentation of ceremonial cheques to staff of the Federal University of Technology, Akure (FUTA), who were beneficiaries of TISSF.

“We had over 33,000 people who applied to enjoy this interest-free loan of up to N10 million off 33 per cent of their salaries, and I can tell you today, we have almost a 30 per cent success rate.

‎”We have 9,000 people who have been approved, and they are getting their funds deposited into their bank accounts,” said Mr Alausa.

Stressing that the scheme was designed to support staff welfare, the minister said, “This is an interest-free loan, and for the first 24 months, you will not even pay the principal back. You’re expected to repay it in about five to seven years.”

‎Mr Alausa explained that 30 per cent of the beneficiaries were academic staff, while 70 per cent were non-academic staff, reflecting the composition of the tertiary workforce.

‎He urged various unions in tertiary institutions to view TISSF as an additional layer of support, rather than a substitute for broader negotiations with the government. ‎

‎”Some ASUU members are saying, ‘don’t give us TISSF; that’s not what we want.’

“I want them to know that this is a layer of support in addition to all the other things we’re doing to really expand the welfare package of our tertiary institution staff, both academic and non-academic,” he said.
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Mr Alausa said the initiative was a direct response to President Bola Tinubu’s directive to enhance the welfare of the nation’s tertiary institution workforce.

The Minister of State for Education, Suwaiba Ahmad, noted that the welfare of staff remained crucial to the success of the education reform.

‎She commended stakeholders and partners for their roles in designing and supporting the fund, describing it as an instrument of shared responsibility and partnership for sustainable education development.

Ms ‎Ahmad advised beneficiaries to use the loan judiciously, assuring that the ministry would ensure transparency and accountability in its administration.

‎“As we commence this initiative, let us work together to make TISSF a sustainable and impactful mechanism that truly uplifts the men and women who sustain the heart of our tertiary institutions,” she added.

(NAN)