FG Launches N10 Million interest free loan for tertiary institution workers

By Fawehinmi Lulu

The administration of President Bola Tinubu has been actively working to support the education sector in Nigeria.

The Minister of Education Dr. Tunji Alausa announced the approval by Mr. President for the launch of the Presidential initiative; The N10million staff support for academic and non- academic staff of Tertiary

This is another testament to President Tinubu’s vision for development and investment in the educational sector.

Dr. Tunji Alausa asserts that the Tertiary institution staff support fund is a key component of the National Education Sector Renewal Implementation, NESRI, framework championed.

He also officially launched the portal for application www.tissf.education.gov.ng

Key points of the initiative:
1. interest-free loan of 10 million naira max made available with a maximum repayment period of 5 years and a one-year moratorium.
2. Staff Beneficiaries of the fund are expected to use it to meet since needs as transportation, small scale Agro business initiatives, medical expenses, family support accommodation, and academic advancement.
3. welfare initiative designed to enhance tertiary institution staff, support professional development, and promote financial independenc
4. support intervention for University, Polythecnic and Colleges of Education Staff, academic and non-academic
5. set up guard rails and a robust monitoring template to ensure smooth

Some education initiatives by the Tinubu led administration within 2 years include

- Release of ₦50 Billion Earned Allowances: The Federal Government, under President Tinubu's administration, released ₦50 billion to settle earned allowances for academic and non-academic staff unions of federal universities. This move aims to boost the welfare of university staff and promote a stable academic environment

- Increased Budgetary Allocation: A record N3.52 trillion was allocated to the education sector in the 2025 federal budget, marking a 61.47% increase from the previous year.

- Nigerian Education Loan Fund (NELFUND): Established to provide interest-free loans to students, NELFUND has registered over 600,000 students, processed more than 550,000 successful loan applications, and disbursed approximately N56.85 billion.

Establishment of New Tertiary Institutions: The administration has established eight new federal universities, 23 new universities, 33 new polytechnics, and 12 new colleges of education, aiming to increase access to education.

Free Education Initiative: The administration introduced a free education program in 33 Federal Science and Technical Colleges, providing free tuition, food, accommodation, and stipends to students.

Skill Development and Acquisition: Initiatives like the Dual Training Model and Technical and Vocational Education and Training (TVET) focus on equipping students with relevant skills for the 21st-century economy

Data-Driven Planning: The National Education Data System was established to track student progress, teacher development, and school infrastructure, enabling better planning and monitoring of education.

- Out-of-School Children Education: Efforts are being made to reintegrate over 20 million out-of-school children into the education system, aiming to prevent exploitation and improve enrollment rates.

Teacher Training and Support: The administration has emphasized teacher training and development, recognizing the critical role teachers play in shaping the nation's future.

- Monthly Stipend for Technical College Students: A monthly stipend of N45,000 was introduced for technical college students across the country.

National Education Data System: President Tinubu approved the establishment of a National Education Data System to track student progress, teacher development, and school infrastructure. This system will help identify areas needing improvement and inform data-driven decisions.

Teacher Training and Support: The government is committed to training teachers in digital skills, facilitating the use of technology in classrooms, and improving education quality.
-