- Tinubu Approves Funds to Address Pension Backlogs, Benefits
- The approved measures include a N32,000 pension increment
- The Defined Benefit Scheme covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004
President Bola Tinubu has approved a series of measures to clear pension backlogs and introduce new welfare benefits for pensioners under the Defined Benefit Scheme, the Pension Transitional Arrangement Directorate (PTAD) announced on Friday.
Eko Hot Blog reports that the approval follows a formal request by PTAD’s Executive Secretary, Tolulope Odunaiya, for an emergency budgetary allocation to implement pension reforms and improve welfare benefits for the scheme’s retirees.
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In a statement, PTAD said, “The Pension Transitional Arrangement Directorate is pleased to announce that His Excellency, President Bola Tinubu, has approved far-reaching measures to enhance the welfare of Defined Benefit Scheme Pensioners, in line with the Renewed Hope Agenda.
“Recall that PTAD’s Executive Secretary, Tolulope Odunaiya, formally requested an emergency budgetary allocation to implement key pension reforms and welfare benefits.”
The approved measures include a N32,000 pension increment, percentage increases for pensioners of defunct and privatised agencies, harmonisation of pensions for all DBS pensioners, enrolment in the National Health Insurance Scheme, and settlement of long-standing unfunded pension liabilities.
According to a statement signed by PTAD’s Head of Corporate Communications Unit, Olugbenga Ajayi, the President has approved additional budgetary allocations to fully implement the new pension rates, adopt the harmonisation policy in the 2026 pension budget, and provide health insurance coverage for all DBS pensioners under the 2026 budget.
The statement added that the balance of inherited unfunded pension liabilities owed to NITEL/MTEL pensioners, as well as arrears owed to other parastatal pensioners, will also be included in the 2026 budget proposal.
Odunaiya described the approvals as a turning point for DBS pension administration and a reflection of the President’s commitment to the welfare of senior citizens.
She said, “These approvals reflect the Renewed Hope Agenda’s commitment to equity, social justice, and the dignity of our Pensioners.
“They also affirm Mr. President’s role as the leader who ushered a new era of impactful welfare benefits for Defined Benefit Scheme Pensioners.”
Expressing gratitude to the President for what she called “historic approvals,” Odunaiya noted that the reforms will address long-standing disparities in pension rates and improve healthcare access for retirees.
She explained that the measures will be implemented in phases in collaboration with relevant government agencies to ensure smooth execution.
The directorate assured pensioners of its commitment to their welfare, adding, “PTAD reassures all DBS Pensioners of its ongoing dedication and unwavering commitment to their welfare.”
The Defined Benefit Scheme covers pensioners who retired before the introduction of the Contributory Pension Scheme in 2004, including those from defunct public institutions, privatised agencies, and treasury-funded parastatals.
Many have faced irregular payments, delayed harmonisation, and inadequate healthcare access challenges the new reforms aim to address.
