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FG Unveils N10m Interest-free Loan Scheme For Staff In Tertiary Institutions
The Federal Government has unveiled a ?10 million Tertiary Institutions Staff Support Fund (TISSF), designed to improve the welfare, career development, and financial stability of academic and non-academic staff in tertiary institutions.
The scheme, unveiled by the Minister of Education, Dr Tunji Alausa in Abuja on Thursday, is an interest-free loan.
The Tide source reports that the TISSF is a joint initiative of the Federal Ministry of Education and the Tertiary Education Trust Fund (TETFund), implemented in partnership with the Bank of Industry.
Alausa said the scheme was an intergral part of President Bola Tinubu’s Renewed Hope Reform Agenda for Education, which placed people at the centre of transforming the education sector and growing the economy.
“This programme is not just a welfare package.
“It is a strategic empowerment platform, designed to give our academic and non-academic staff the financial stability they need to serve our students with renewed dedication, and to live with dignity and pride.
“It is a zero per cent interest loan scheme aimed at enhancing welfare, supporting career development, and promoting financial independence for staff in Nigerian tertiary institutions,” he said
Alausa added that the scheme was put in place to address economic pressures and professional development gaps among tertiary staff.
He stated that studies had shown that over 70 per cent of tertiary institution staff in Nigeria had not participated in structured capacity-building programmes in the last five years.
He stated that TISSF aimed to change the situation, saying ‘’through the TISSF, beneficiaries will have access to finances for Medical Support like surgeries, emergency care, and medication.’’
According to him, there will be family and accommodation support such as rent, home ownership, renovation.
The minister also explained that beneficiaries would have access to transportation which included vehicle purchase (including EVs), bikes, tricycles, CNG conversions.
Other areas of intervention with the scheme include Small-Scale Enterprise and Agriculture in poultry, fishing, crop farming, and agro-processing.
Alausa added that academic advancement in the areas of professional certifications, degrees, and capacity-building programmes would be included in the scheme.
“The TISSF is open to confirmed full-time academic and non-academic staff of any federal university, polytechnic, or college of education and one state university, polytechnic, and college of education in each state.
” Applicants, who must have at least five years to retirement, membership of relevant staff associations such as ASUU, NASU, COEASU, and SSANIP are required.’’
The minister said that the development had translated to 248 eligible institutions nationwide, covering all federal tertiary institutions and selected state-owned ones.
He added that each eligible staff member could access up to ?10 million, subject to a cap of 33.3 per cent of their gross annual salary.
He noted that the interest-free loans would be repayable over five years, with 12 months moratorium before repayment begins and invited the eligible to commence application for the programme.
Alausa explained that the applications would be processed through an easy-to-use online platform, www.tissf.boi.ng.,
He urged the staff to fill out the form, undergo identity verification, and have their requests vetted by the Bank of Industry.
“The opportunity is here to improve your welfare, advance your career, and strengthen our institutions.
‘’Let us seize this moment for our personal growth, for the stability of our institutions, and for the future of Nigeria’s education sector,” Alausa said.
Also speaking, the Managing Director, Bank of Industry, Dr Olasupo Olusi, said the process had been fully automated, assuring transparency in the implementation.
The Chairman, House committee on University Education, Abubakar Fulata, while commending the government for the programme, decried the low standard of living of university staff.
Fulata recommended a minimum of N1million as salary for a graduate staff in the tertiary institutions.
The representative of the non-academic staff union, Abubakar Aliyu pledged support for the initiative.
Aliyu, however, called on the federal government to pay all outstanding arrears as the payments would enable the staff to repay the loan.
The Chairman of Committee of Vice Chancellors of Federal Universities, Prof. Tanko Ishaya, also pledged support for the initiative and called for its continuity.
Testing
Rivers State Governor, Sir Siminalayi Fubara, has demanded quick and full resolution to the challenges arising from the gas leakage that occurred in Bille, Degema Local Government Area of the State.
The governor has also pledged to upgrade the Primary Healthcare Centre (PHC) in Bille with a view to addressing the health challenges confronting the community.
Fubara made the pledge on Wednesday at the Government House, Port Harcourt during an enlarged meeting of key stakeholders, comprising representatives of the Federal Government, the state government and leaders of the community.
The meeting was held to review the situation in the community and explore available opportunities to save the people from the adverse impacts of environmental pollution.
Addressing the journalists at the end of the meeting, the governor acknowledged the determination of the Federal Government and its agencies to get to the root cause of the problem in Bille and ensure that it is resolved permanently.
“The meeting is in respect of the situation in Bille. You’re aware that there is a case of gas leakage somewhere in Bille and the people have been making some requests that the government should come to their rescue to resolve the situation.
“As a state, we have gone to see the situation in the community, not alone but in conjunction with the industry operators and officials of the Federal Ministry of Petroleum Resources. What we are doing today is an enlarged meeting where all the parties are sitting together to look at the cause of the issue and the most possible way to get the problem resolved,” he said.
Fubara described the outcome of the meeting as successful, stressing that more action would be taken in the next couple of weeks to ensure that the issue is fully resolved.
The Minister of State, Petroleum Resources (Gas), Hon Ekperikpe Ekpo, who led the Federal Government’s delegation to the meeting, expressed appreciation to the governor for his warm hospitality and efforts to address the challenge in Bille community.
Ekpo explained that contrary to the perception in certain quarters, the Federal Government has not been silent over the “gas seepage” but has been working tirelessly towards finding a sustainable solution.
The minister explained that as soon as the incident was reported, the Federal Government deployed experts to the area to understudy the cause of the problem.
According to him, it was difficult at first to understand the cause of the problem since there were no oil or gas infrastructure within the vicinity of the incident, hence the need to conduct a more detailed investigation.
“The investigation is still going but we decided to do a follow-up visit to the area to talk to the people of Bille Community that we need collaboration on their part so that we would be able to arrive at a lasting solution.
“The safety of the people is paramount. We can understand their anxiety, the worry and the danger that this thing poses within the area, but the Federal Government is committed to finding a lasting solution to the problem. The primary responsibility of government is to take care of the welfare and security of the people and that is exactly why we are here to go and see things for ourselves,” he said.
The Chief Executive Officer (CEO), Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Mrs Oritsemeyiwa Eyesan, also explained that as the regulatory agency at the centre of the issue, no effort will be spared in the task of resolving the issue.
Eyesan pledged that the NUPRC and operators in the industry were prepared to address the requests of the impacted people in terms of the provision of potable water and fire trucks to the community.
The Public Relations Officer, Council of Chiefs, Bille Kingdom, Chief Rena Dappa, had during the meeting, presented the challenges facing the community and pleaded for government’s support to save the lives and livelihoods of the people.
President Bola Tinubu has announced the launch of a training programme for 5,000 young Nigerians as meter installers and technicians under the Presidential Metering Initiative.
The President stated that the scheme is aimed at creating jobs, closing the country’s metering gap and improving electricity supply.
The President disclosed this in a statement on his verified X handle yesterday, describing the initiative, tagged “The Power Force,” as part of his administration’s Renewed Hope Agenda to expand employment opportunities for young people.
According to Tinubu, the programme will equip participants with practical technical skills and connect them to employment opportunities in Nigeria’s power sector.
“Through the Presidential Metering Initiative (PMI), which I established to close Nigeria’s metering gap, end estimated billing, protect consumers and strengthen the electricity market, we are opening a new pathway for 5,000 young Nigerians to be trained as meter installers and technicians under The Power Force. This programme is about jobs, skills and dignity,” he said.
Tinubu said the training would be open to eligible Nigerians who have completed their secondary school education, with a dedicated quota reserved for members of the National Youth Service Corps.
He noted that expanding electricity metering was critical to improving service delivery and promoting transparency in the power sector.
“When homes and businesses are properly metered, Nigerians can pay for what they actually use. When electricity distribution companies collect revenues more transparently and fairly, they are better able to reduce losses, maintain infrastructure, expand connections and invest in better service.
“This is how we build a power sector that is fairer to consumers, stronger for investors and better able to deliver reliable electricity to the Nigerian people,” the President said.
Tinubu said he had directed the Presidential Metering Initiative to work with the Federal Ministry of Youth Development, the National Power Training Institute of Nigeria, and other relevant stakeholders to commence the programme within the next 30 days.
He encouraged qualified young Nigerians to apply, saying the initiative would provide them with marketable skills while supporting efforts to eliminate estimated billing and improve electricity access nationwide.
“I encourage eligible young Nigerians to apply. Join The Power Force. Learn a skill. Earn with dignity. Help us end estimated billing and be part of the work to light up Nigeria,” he added.