The Federal Government of Nigeria has disbursed N13.3 billion to 7,450 beneficiaries in the first cycle of its Tertiary Institutions Staff Support Fund programme. The fund, which is an interest-free loan scheme for workers in tertiary institutions, aims to provide affordable financing for key personal and livelihood needs. According to the Federal Ministry of Education, N15 billion was disbursed to the Bank of Industry, which serves as the fund custodian and is responsible for disbursing loans to verified beneficiaries.
The ministry stated that the remaining balance of N1.7 billion is being processed through the institutional onboarding pipeline. The programme, which was officially launched on August 14, 2025, has 153 institutions on its platform and has received over 42,000 applications. Out of these, 28,987 applications have been approved, while 8,604 loan offers have been sent to applicants. The loan carries zero per cent interest, with beneficiaries able to access up to N10 million.
Under the repayment structure, beneficiaries are given a one-year moratorium, after which repayment is spread over five years through payroll deductions. However, deductions must not exceed 33.3 per cent of a beneficiary's gross pay. The facility can be used for housing, transportation, agriculture and business, professional development, and other welfare needs. The Federal Ministry of Education serves as the programme authority, with responsibility for policy design and institutional oversight.
The Bank of Industry serves as the fund custodian and is responsible for loan disbursement to verified beneficiaries, financial infrastructure, and loan management. University bursaries are responsible for employment verification, repayment deduction management, and liaison between institutions and the programme. Staff unions, including ASUU, NASU, and SSANU, are also expected to assist with member mobilisation and verification.
The ministry identified several challenges encountered during the first year of implementation, including limited awareness of the programme among some institutions and eligible workers. In response, the ministry used union partnerships to improve communication with staff, while the relevant programme coordination team worked with heads of institutions to strengthen internal communication. The programme team and BOI also deployed dedicated support to each institution's bursar and refined the conditional-access model to accelerate application processing.
Another challenge involved disputes over eligibility verification, with some applicants contesting automated decisions that rejected their applications. The programme team and BOI continued engaging institutions to explain the verification process while making adjustments based on lessons from implementation. The Federal Government's decision to provide the facility at zero interest is intended to give tertiary institution workers access to credit without the additional cost associated with conventional loans.
With N13.3 billion already disbursed to 7,450 beneficiaries and the N1.7 billion balance undergoing processing, the next phase of the programme will depend largely on the pace of institutional onboarding, verification, and loan disbursement. The ministry said information on the scheme is available through the TISSF information portal, while applicants use the BOI platform for loan processing. The programme targets staff records across Nigeria, with more than 31 million records identified within the broader system.
Key points
- N13.3 billion disbursed to 7,450 varsity staff under Tertiary Institutions Staff Support Fund
- N1.7 billion balance being processed through institutional onboarding pipeline
- Programme aims to provide affordable financing for key personal and livelihood needs of tertiary institution workers
