FG Opens Application Portal for N10 Million Interest-Free Loan to Tertiary Institution Staff

Federal Government has opened applications for interest-free loans to tertiary institution staff nationwide.

The TISSF scheme offers up to N10 million repayable over five years with a grace period.

The Federal Government has launched the application portal for the Tertiary Institution Staff Support Fund (TISSF), an initiative designed to provide interest-free loans to academic and non-academic staff of Nigerian universities, polytechnics, and colleges of education.

Announcing the development on X, Sunday Dare, Special Adviser on Media and Public Communication to the President, confirmed that the portal is now live at tissf.education.gov.ng.

Minister of Education Dr. Tunji Alausa described the TISSF as a strategic welfare program aimed at boosting staff wellbeing, supporting professional growth, and promoting financial independence. Under the scheme, eligible staff can access up to N10 million, repayable over five years, with a one-year grace period before repayment begins.

The loan can be used for various purposes, including transportation, small-scale agricultural ventures, medical bills, family support, accommodation, and academic advancement. Alausa compared the initiative to the Nigeria Education Loan Fund (NELFUND) and highlighted that it forms part of the National Education Sector Renewal Implementation (NESRI) plan aimed at revitalizing the education sector.

“This is another evidence of Renewed Hope in action, reflecting President Tinubu’s commitment to education and its workforce,” the minister said, adding that robust monitoring systems have been put in place to ensure transparency and effective implementation.

First unveiled in July during a high-level stakeholder engagement in Abuja, the TISSF was developed in collaboration with staff unions, institutional leaders, and other education stakeholders. The program is being implemented in partnership with the Bank of Industry to guarantee accountability.

Loans will be capped at 33.3% of a beneficiary’s gross annual salary, with disbursement tied to clearly defined purposes such as healthcare, transport, or small-scale business initiatives like poultry farming. A dedicated monitoring and evaluation framework will track its performance to ensure it delivers long-term benefits for the sector.