FG Disburses N13bn Interest-Free Loans to 7,450 Tertiary Institution Workers Nationwide
The Federal Government has disbursed about N13 billion in interest-free loans to 7,450 academic and non-academic staff across 153 public tertiary institutions in Nigeria.
The intervention, implemented under the 2025/2026 cycle of the Tertiary Institutions Staff Support Fund (TISSF), was disclosed in a statement on Friday by Boriowo Folashade, director of press and public relations at the Federal Ministry of Education.
According to the ministry, the scheme reflects President Bola Tinubu’s commitment under the Renewed Hope Agenda to improving the welfare, financial stability and productivity of education sector workers nationwide.
The TISSF, established by the Ministry of Education and administered by the Bank of Industry (BOI), provides interest-free loans of up to N10 million to eligible staff of public universities, polytechnics and colleges of education to support personal and professional needs.
The ministry said the programme is designed to ease financial pressures on workers while improving their wellbeing and strengthening the capacity of personnel responsible for teaching, research and innovation in tertiary institutions.
Minister of Education, Dr. Tunji Alausa, described the scheme as a key pillar of the government’s education reform agenda, noting that no education system can rise above the quality of its workforce.
He explained that investments in infrastructure, technology, skills development and institutional reforms must be matched with practical interventions that enhance staff welfare and productivity.
According to him, the successful completion of the 2025/2026 phase demonstrates strong demand for the programme and its positive impact across institutions.
Since disbursements began on October 28, 2025, the scheme has processed over 42,000 applications through its digital platform, reaching beneficiaries across all six geopolitical zones.
Universities accounted for 52 per cent of total disbursements, while colleges of education and polytechnics received 25 per cent and 23 per cent respectively.
The ministry noted that female beneficiaries accounted for 19 per cent of recipients during the cycle, adding that targeted sensitisation and outreach efforts will be strengthened in future phases to improve inclusivity and regional participation.
It also stated that the application process is being enhanced to ensure a faster, more efficient and user-friendly experience for applicants.
The ministry further announced that applications for the 2026/2027 cycle of the TISSF will open at the end of June 2026, advising eligible staff to liaise with their institutions’ bursary departments and follow official communication channels for updates.