ABUJA, Nigeria (VOICE OF NAIJA)-The National President of the Nigeria Union of Pensioners, Godwin Abumisi, has praised President Bola Tinubu for approving the payment of N39.6bn, representing the 10.6 per cent pension increase arrears owed to pensioners under the Defined Benefit Scheme.
Abumisi spoke shortly after the Pension Transitional Arrangement Directorate and the Ministry of Finance announced the disbursement on Friday.
He said the payment, alongside other pension-related interventions by the Federal Government, had reinforced pensioners’ confidence in the administration’s commitment to the welfare of elderly citizens.
He said, “We are very happy with the present government. No president in Nigeria has achieved as much as His Excellency, Bola Tinubu, President of the Federal Republic of Nigeria, GCFR. No other president has done as much as he has.”
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The pensioners’ leader also highlighted other interventions he credited to the Tinubu administration, including the release of N758bn for the settlement of pension and gratuity arrears owed to retirees under the Contributory Pension Scheme and N58bn for pension arrears owed to beneficiaries under the Defined Benefit Scheme.
“He has released funds to pay 10.6 per cent arrears of pension increase, amounting to N39.6bn. He also made available the sum of N758bn for arrears of pension and gratuity for PENCOM, for contributory pensioners.
“And he provided N58bn for the payment of pension arrears for those on the Defined Benefit Scheme.
“So we are congratulating him, we are thanking him, and we are appreciating all that he is doing for pensioners in Nigeria. We are hopeful he will do even more for us,” he added.
Responding to a question on whether the development had strengthened pensioners confidence in the government, Abumisi said the administration had consistently demonstrated commitment to the regular payment of monthly pensions since assuming office.
“This government is very much committed to the welfare of elderly citizens in Nigeria. We also know he has plans in place for the regular payment of monthly pensions,” he said.
He added that pensioners were no longer experiencing the delays that had previously affected pension administration in the country.
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“Since he took office, Nigerian pensioners and elderly citizens have been paid their pensions regularly. We no longer have the problems we used to have.
“So I thank him, on behalf of all pensioners in Nigeria, for what he has done, and we expect him to do even more,” he said.
Abumisi urged pensioners across the country to remain loyal to the government and support the President’s re-election bid ahead of the 2027 general election.
“My advice is that we should be loyal to this government, because no other government has done as much as he has. We should support his bid to return to office and ensure he comes back in 2027,” he said.
The Federal Government on Friday announced the payment of more than N39bn in inherited pension liabilities owed to retirees of the defunct Nigerian Telecommunications Limited, Mobile Telecommunications Limited, Power Holding Company of Nigeria, Assurance Bank, NICON and the defunct People’s Bank of Nigeria.
According to PTAD, the disbursement includes N25.05bn representing a 35-month pension liability owed to 9,675 eligible NITEL/MTEL pensioners, N9.48bn representing the initial 50 per cent payment of Back End Computation arrears to 3,959 PHCN pensioners, and N5.09bn covering the outstanding balance of the 10.66 per cent and 12.95 per cent pension increment arrears due to 11,180 pensioners of Assurance Bank, NICON, NITEL and People’s Bank.
The Executive Secretary of PTAD, Tolulope Odunaiya, described the payments as a demonstration of the Federal Government’s Renewed Hope Agenda, noting that presidential approval for the settlement was granted in August 2025, while the funds were subsequently provided through the 2026 Appropriation Act.