President Bola Tinubu has approved a 20% increase in pensions for Armed Forces personnel, effective from January.
EKO HOT BLOG reports that the Chief of Naval Staff (CNS), Vice Adm. Emmanuel Ogalla, announced on Thursday that President Bola Tinubu has approved a 20 percent increase in pensions for Armed Forces personnel.
Vice Adm. Ogalla made this disclosure during the 2024 Accounts and Budget Seminar, themed “Optimising Nigerian Navy Non-Public Fund Opportunities In A Dynamic Economic Environment: The Nigerian Navy Personnel In Focus.”
EDITOR’S PICK
- FG To Repatriate 250 More Nigerians From UAE
- JUST IN: Imo Assembly Votes Out Chief Judge For Alleged Age Tampering
- Emotional Philip Shaibu Reinstated As Edo Deputy Gov By Court; Assembly Set To Appeal
The seminar, spanning two days, is being held at the Naval Dockyard, Victoria Island, Lagos, from July 25 to July 26.
Represented by Rear Adm. Joseph Akpan, the Chief of Policy and Plans at Naval Headquarters, Ogalla commended President Tinubu for prioritizing the welfare of the Armed Forces.
He highlighted that the pension increment took effect in January, reflecting the administration’s swift action in addressing the financial needs of military retirees.
Ogalla said, “This and other packages, including those initiated by various services, are to boost morale for efficiency.
“This seminar is coming at a time when strategies are being explored to generate funds independently from budgetary allocation in addressing welfare needs toward enhancing the living standards of personnel.
“This initiative is fundamental for operational efficiency constraint that human factor is the most important for the success of any organisation including the Nigerian Navy.
“Optimising non-public funds for improved personnel fare boosts wellbeing and facilitates retaining skilled personnel for enhanced operational effectiveness.
“These schemes are managed by the Directorate of non-public funds.
“These are critical factors necessary toward protecting the maritime environment for the economic prosperity of our nation, which the Nigerian Navy is saddled with.
“I am delighted that lectures for this seminar have been crafted to elucidate these factors as well as evolve innovations to utilise non-public funds to improve personnel welfare.
“It will not be out of place if packages like mortgage, among others, can be discussed for a more resilient and capable naval force.
“I, therefore, encourage us to utilise these two days to brainstorm on critical policy issues on non-public fund opportunities toward improved operational efficiency for personnel welfare.
FURTHER READING
- PDP Governors Back Fubara Amidst Crisis With Wike
- Lagos: Sanwo-Olu Approves Key Appointments Ahead Of LG Elections
- Average Petrol Price Hits ₦750.17 Per Litre In Latest NNPC Report
“We remain grateful and will continue to carry out our statutory mandate for economic prosperity and poverty eradication in line with your renewed hope Nigeria.”
Click here to watch our video of the week:
Advertise or Publish a Story on EkoHot Blog:
Kindly contact us at [email protected]. Breaking stories should be sent to the above email and substantiated with pictorial evidence.
Citizen journalists will receive a token as data incentive.
Call or Whatsapp: 0803 561 7233, 0703 414 5611
