President Bola Tinubu has approved the disbursement of N40 billion in zero interest loans to lecturers and other workers in Nigeria's tertiary institutions, reaffirming the Federal Government's commitment to staff welfare and a stable academic calendar.
The President made this known on Saturday at the 45th convocation ceremony of Ahmadu Bello University, Zaria. He was represented by the Minister of State for Education, Prof. Suwaiba Said Ahmad.
Tinubu said the Staff Loan Scheme was introduced to ease financial pressures on academic and non academic staff and enable them to concentrate on teaching, research and community service. "As part of our efforts to improve staff welfare in tertiary institutions, we have introduced a Staff Loan Scheme designed to provide accessible financial support to employees across the sector," he said.
He explained that the Federal Ministry of Education had concluded arrangements with the Bank of Industry to provide zero interest loans, with the government bearing the full interest cost. "Some beneficiaries have already accessed the facility since last year. For 2026, a total of N40 billion has been earmarked for disbursement, with individual loans ranging from N1 million to N10 million," Tinubu said. The loans, he added, would be repayable over five years, including a one year moratorium to ensure affordability and sustainability.
The President also stressed that a stable academic calendar was critical to the growth of tertiary institutions, pledging that his administration would avoid disruptions in the education system. "In this regard, I reaffirm this administration's commitment to keeping our institutions open in line with approved academic calendars," he said.
Tinubu commended the Tertiary Institutions Expanded Negotiation Committee, chaired by Alhaji Mahmud Yayale Ahmed, for facilitating agreements with the Academic Staff Union of Universities, while assuring other unions that outstanding negotiations would be concluded in due course.
He praised ABU for its achievements in teaching, research and community service and urged the institution to sustain alignment with the Federal Government's Tertiary Institutions Governance and Transparency Programme, aimed at strengthening accountability and data driven governance.
On infrastructure, the President applauded the university's efforts at reducing electricity costs through energy conservation and disclosed that ABU would benefit from Phase IV of the Energising Education Programme, which provides 24-hour electricity to federal tertiary institutions. He said Phases I–III of the programme had already delivered over 100 megawatts of clean energy to 24 federal universities and teaching hospitals nationwide.
Addressing graduating students, Tinubu encouraged them to embrace innovation and entrepreneurship, urging them to leverage the Students' Innovation Venture Capital Grant, which provides up to N50 million in seed funding for student led ventures without equity requirements.
He also highlighted the National Implementation Guidelines on Drug and Substance Use in Nigerian Institutions, describing the policy as a critical intervention to curb drug abuse and improve learning outcomes through curriculum reforms, awareness programmes and collaboration with the National Drug Law Enforcement Agency.
