The Federal Government has commenced the disbursement of interest-free loans to staff members of universities, polytechnics, and colleges of education across the country.

The initiative, introduced under the Tertiary Institution Staff Support Fund (TISSF), is designed to enhance the welfare of both academic and non-academic personnel in tertiary institutions.

During the official launch held at the Federal University of Technology, Akure (FUTA), the Minister of Education, Dr. Tunji Alausa, said the programme aligns with President Bola Tinubu’s Renewed Hope Agenda.

Alausa, who was accompanied by the Minister of State for Education, Prof. Suwaiba Ahmad, revealed that over 30,000 workers had applied for the loan, with about 9,000 applications already approved. He added that 70 per cent of the approved beneficiaries are non-academic staff, while 30 per cent are academic staff.

“We are not merely distributing loans; we are fulfilling one of the President’s key promises under the Renewed Hope Agenda—to uplift the welfare of those who form the foundation of our nation’s future: our educators,” Alausa said.

“To the over 9,000 academic and non-academic staff who have begun receiving their formal offer letters under the Tertiary Institution Staff Support Fund, the Federal Government extends its heartfelt congratulations. You are the pioneer beneficiaries of this strategic initiative.”

The minister further disclosed that although the official ceremony took place at FUTA, disbursement had already begun.

“Payments started last week, with more than 400 applicants already credited. Others should expect their payments soon as we aim to complete all disbursements before the end of the year,” he stated.

Alausa added that President Tinubu had directed the ministry to ensure all categories of tertiary institution staff receive recognition and financial assistance. He explained that the interest-free loans, which can reach up to ₦10 million (capped at 33.3% of annual gross salary), would help workers meet needs such as housing, healthcare, transportation, and small-business development.

“Over 9,000 verified staff from 219 federal and state tertiary institutions are benefitting in this first phase,” he noted. “This swift implementation demonstrates that this administration is committed to keeping its promises. The President is delivering for the education sector, for welfare, productivity, and the future.”

In her remarks, the Vice-Chancellor of FUTA, Prof. Adenike Oladiji, expressed appreciation to the Federal Government for including the institution among the beneficiaries of its development initiatives, including the $1 billion commercial aid programme. She also appealed for increased funding for universities.

“FUTA has been selected as a beneficiary, and we are sincerely grateful. We appreciate the efforts to promote peace and stability in our universities,” she said.

Prof. Oladiji urged the government to sustain efforts toward keeping universities open. “Please, whatever can be done to ensure that our universities remain open should be prioritised, as the burden of closure falls heavily on Vice-Chancellors,” she added.

Meanwhile, the Academic Staff Union of Universities (ASUU) has opposed the government’s loan scheme, describing it as a move to burden university workers. Efforts to obtain further comments from the ASUU President, Prof. Chris Piwuna, were unsuccessful as of the time of this report.