Federal Government Disburses ₦13 Billion Interest-Free Loans to 7,450 Tertiary Institution Workers
Federal Government Disburses ₦13 Billion Interest-Free Loans to 7,450 Tertiary Institution Workers
The Federal Government has disbursed over ₦13 billion in interest-free loans to 7,450 staff members across 153 tertiary institutions nationwide under its ongoing welfare and financial support programme for education sector workers.
The intervention, facilitated through the Tertiary Education Trust Fund (TETFund) and relevant government agencies, is aimed at improving the living standards of academic and non-academic staff while enhancing productivity within Nigeria’s higher education system.
Officials disclosed that the beneficiaries were drawn from federal and state-owned universities, polytechnics, and colleges of education across the country. The loan scheme is designed to provide financial relief to workers by offering access to credit without the burden of interest payments.
According to the government, the initiative forms part of broader efforts to strengthen the education sector, improve staff welfare, and support economic stability among workers facing rising living costs.
The authorities noted that the programme has continued to receive positive feedback from beneficiaries, many of whom have utilized the loans for housing, healthcare, education, small-scale investments, and other personal development projects.
Education stakeholders have welcomed the development, describing it as a significant step toward addressing the financial challenges confronting workers in tertiary institutions. They urged the government to sustain and expand the scheme to accommodate more beneficiaries in future disbursement cycles.
The Federal Government reaffirmed its commitment to prioritising education and staff welfare, stressing that improving the wellbeing of workers remains essential to achieving quality teaching, research, and institutional development across the nation’s higher education sector.
Experts believe the interest-free loan programme will not only ease financial pressures on workers but also contribute to increased efficiency and service delivery within tertiary institutions.
