The Nigeria Union of Pensioners has commended President Bola Tinubu following the disbursement of N39.6 billion in pension increase arrears to retirees under the Defined Benefit Scheme, describing the move as a major intervention in addressing long-standing pension liabilities.
The National President of the union, Godwin Abumisi, said the payment reflected the administration’s commitment to improving the welfare of elderly Nigerians and restoring confidence in pension administration.
Speaking with TVC News after the announcement by the Pension Transitional Arrangement Directorate and the Federal Ministry of Finance, Abumisi praised the Federal Government for what he described as unprecedented support for pensioners.
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“We are very happy with the present government. No president in Nigeria has achieved as much as His Excellency Bola Tinubu has done for pensioners,” he said.
According to him, the payment of the 10.6 per cent pension increase arrears, valued at N39.6 billion, complements other interventions undertaken by the administration since assuming office.
Abumisi cited the release of N758 billion for the settlement of pension and gratuity arrears owed to retirees under the Contributory Pension Scheme, as well as N58 billion earmarked for pension liabilities under the Defined Benefit Scheme.
“He has released funds to pay 10.6 per cent arrears of pension increase amounting to N39.6 billion. He also made available N758 billion for arrears of pension and gratuity for contributory pensioners and provided N58 billion for pension arrears under the Defined Benefit Scheme,” he stated.
The pensioners’ leader said retirees had witnessed significant improvements in the regularity of monthly pension payments under the current administration.
“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,” Abumisi said.
He also urged pensioners across the country to remain supportive of the government, expressing optimism that further reforms would strengthen the pension system.
Abumisi went further to endorse Tinubu’s prospective re-election bid in 2027, arguing that pensioners should back an administration they believe has prioritised their welfare.
The Federal Government had on Friday announced the payment of more than N39 billion in inherited pension obligations owed to retirees of several defunct public enterprises and financial institutions.
According to PTAD, the disbursement includes N25.05 billion representing a 35-month pension liability owed to 9,675 eligible pensioners of NITEL and MTEL.
Another N9.48 billion was approved as an initial 50 per cent payment of Back End Computation arrears due to 3,959 pensioners of PHCN.
PTAD also disclosed that N5.09 billion would cover outstanding balances of the 10.66 per cent and 12.95 per cent pension increment arrears owed to 11,180 retirees of Assurance Bank, NICON, NITEL and the defunct People’s Bank of Nigeria.
Executive Secretary of PTAD, Tolulope Odunaiya, described the payments as part of the Federal Government’s Renewed Hope Agenda and efforts to clear inherited pension liabilities accumulated over several years.
Odunaiya said presidential approval for the settlement of the obligations was granted in August 2025, while the funds were subsequently appropriated through the 2026 budget.
Successive administrations have faced criticism over delayed pension payments and mounting arrears, particularly among retirees of privatised and defunct government institutions.
The latest disbursement is expected to bring relief to thousands of pensioners who have waited years for outstanding benefits and may further strengthen confidence in ongoing efforts to reform pension administration in the country.
