The Minister of Education, Dr Tunji Alausa, has said the newly launched Tertiary Institution Staff Loan Scheme Fund (TISSF) will enhance staff morale and productivity across tertiary institutions in the country.
Alausa said this during the presentation of ceremonial cheques to staff of the Federal University of Technology, Akure (FUTA), who were beneficiaries of the scheme on Wednesday.
He explained that the TISSF was created to provide interest-free loans of up to N10 million to both academic and non-academic staff, aimed at improving their welfare and living conditions.
“Today, we’ll be presenting a ceremonial cheque to the awardees at the Federal University of Technology. 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.”
The minister disclosed that 9,000 applicants had been approved, and funds were already being credited to their accounts.
He noted that about 30 per cent of the beneficiaries were academic staff, while 70 per cent were non-academic staff, reflecting the structure of the tertiary workforce. Alausa urged unions to view the scheme as an additional welfare measure, not a replacement for ongoing negotiations.
“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 expand the welfare package,” he added.
Also speaking, the Minister of State for Education, Prof. Suwaiba Ahmad, said the initiative reflected the government’s commitment to improving the welfare of those shaping the nation’s education system.
