Each eligible staff member can receive up to ₦10 million, capped at 33.3% of their gross annual salary. The fund can be used for transportation, medical support, and micro-enterprise ventures such as poultry farming.
The Minister of Education, Dr. Tunji Alausa, stated that the fund is part of the administration's effort to reposition tertiary education in the country. "TISSF is not just about welfare, it's about empowerment. We're ensuring our education workforce is supported to live well, grow professionally, and contribute meaningfully to institutional excellence."
The program will be implemented in partnership with the Bank of Industry, ensuring transparency, accountability, and effective delivery. A robust monitoring and evaluation framework has been embedded to track progress and ensure the fund's long-term success.
Stakeholders, including representatives from the Tertiary Education Fund, Bank of Industry, and institutional leaders, expressed strong support for the initiative, describing it as timely and essential for boosting staff morale and improving performance.