₦airaland Forum

The Federal Government of Nigeria has kicked off a scheme for academic / non-academic staff of Nigeria’s universities, polytechnics, and colleges of education to get loans of up to ₦10 million each.

Known as the Tertiary Institution Staff Support Fund (TISSF), it was announced by Minister of Education Dr. Maruf Olatunji Alausa via a statement issued Sunday 27 July 2025 by the ministry’s Director of Press and Public Relations, Mrs. Folasade Boriowo.

The programme will be managed in partnership with the Bank of Industry (BOI) which will oversee disbursement to ensure transparency, accountability, and effective delivery of the loans.

Earlier in April 2025, the Federal Government had released ₦50 billion to clear outstanding earned allowances for academic and non-academic staff in federal universities.


SOURCE
https://x.com/NaijaphiliaBlog/status/1950552015551045957

You forgot to include in your write-up that it's capped at 33.3% of their gross annual salary.

Is there any academic or non-academic staff member whose gross annual salary is up to ₦30,030,030?

No academic or non-academic staff would receive up to ₦10 million loan under this scheme; not even VCs.

Interesting! You have raised a very salient point.

However, should we consider the Loan Scheme a positive development or not?

Merry100:
You forgot to include in your write-up that it's capped at 33.3% of their gross annual salary.

Is there any academic or non-academic staff member whose gross annual salary is up to ₦30,030,030?

No academic or non-academic staff would receive up to ₦10 million loan under this scheme; not even VCs.

NaijaphiliaBlog:
Interesting! You have raised a very salient point.

However, should we consider the Loan Scheme a positive development or not?

Though it's a positive development, there's still room to make it more impactful.

Given the current economic realities, the 33.3% cap means that the maximum accessible loan for most staff falls short of what's needed for truly meaningful purposes.

So, what exactly is the goal; impact or optics?

If the Federal Government genuinely intends to provide financial support, then the structure of the scheme may need to be reviewed to better reflect the actual needs of staff.

In the same vein, they also launched their Student Insurance scheme to suck money from students.. go to NOUN and see how they guzzle money from student's

Have civil servants started benefitting from the Credicorp loan scheme or it is all just audio application?

Some people will come here and tell us that this is nonsense. They will tell us Nigerua is so rich that the money should not be a loan but be gifted to each staff of our tertiary institutions annually. They will say Tinubu is doing this for reelection and not implementing a major talking point of his campaign which is making credit available for Nigerians across board as a way of stimulating the local economy and curbing corruption.

We need more details, however a good step in the right direction.

-Kiss the truth!