President Bola Ahmed Tinubu has approved the issuance of ₦758 billion in Federal Government bonds to clear outstanding pension liabilities, including unpaid increases dating back to 2007 — a major relief for Nigerian retirees.
The National Pension Commission (PenCom) praised the move as part of the Renewed Hope Agenda, noting that over 10 million Nigerians are now enrolled under the Contributory Pension Scheme (CPS), with total pension assets surpassing ₦25 trillion. These funds support national investments and ensure regular payments to more than 844,000 retirees.
Under Tinubu’s reforms, initiatives like Pension Boost 1.0 have raised monthly pension payouts from ₦12.157 billion to ₦14.837 billion, while the new “Zero Waiting Time” policy ensures retirees start receiving payments immediately upon retirement.
Additionally, the government plans to reintroduce gratuity for federal civil servants to enhance retirement benefits.
Overall, these actions reflect Tinubu’s drive to restore retirees’ dignity, promote social justice, and strengthen Nigeria’s pension system.
Do you want to advertise with us?
Do you need publicity for a product, service, or event?
Contact us on WhatsApp +2348033617468, +234 816 612 1513, +234 703 010 7174
or Email: validviewnetwork@gmail.com
CLICK TO JOIN OUR WHATSAPP GROUP
