The Federal Government has launched a loan fund to support staff at tertiary institutions. This fund, known as the Tertiary Institution Staff Support Fund, aims to enhance the welfare and professional development of both academic and non-academic staff in universities, polytechnics, and colleges of education.
Each eligible staff member can receive up to 10 million naira, with the amount capped at 33.3 percent of their gross annual salary. The funds can be used for various purposes, including transportation, medical support, and micro-enterprise ventures such as poultry farming.
This initiative was announced in a statement by Folasade Boriowo, the Director of Press at the Federal Ministry of Education. The announcement took place during a high-level stakeholder engagement session held in Abuja.
Dr. Tunji Alausa, the Minister of Education, stated that the fund is part of the administration’s broader effort to reposition tertiary education in the country.