ENUGU, Nigeria (VOICE OF NAIJA)- The Minister of Finance and Coordinating Minister for the economy, Wale Edun, says that the Federal Government of Nigeria is committed to improving pension management and enhancing retiree wellbeing.
Edun made the pledge during a working visit to the headquarters of the Pension Transitional Arrangement Directorate (PTAD) in Abuja.
The minister underscored the importance of strong public finance governance, saying, “Our resolve is to ensure that the systems managing our pension funds are not only robust and efficient but also aligned with our broader economic goals of transparency and accountability.”
According to a statement issued by the Ministry, the visit represents a “historic initiative” in Nigerian pension management.
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He also noted the government’s commitment to pensioners through “deliberate and timely increments” in pensions as well as a focus on eliminating pension arrears and ensuring all retirees receive their rightful entitlements.
“This visit underscores President Bola Ahmed Tinubu’s unwavering commitment to pensioners’ welfare even amid essential economic reforms,” Minister Edun stated.
Edun further reassured the staff of PTAD of the Ministry’s support for the recent pension increment, which he said aligns with the provisions of Section 173(3) of the Nigerian Constitution.
Hr commended PTAD staff for their dedication and essential role in pension administration. Discussions during the visit reportedly focused on “vital backend computation projects” aimed at streamlining and ensuring transparency in pension calculations.
Also, The minister’s assurance of continued support for recent pension increases and his focus on eliminating pension backlogs are positive indicators for Nigeria’s retirees.
The emphasis on “backend computation projects” further suggests a data-driven approach to ensuring accurate and timely distribution of pension benefits.