N39.6 Billion Pension Arrears: Tinubu Earns High Praise from Elderly Citizens

The National President of the Nigeria Union of Pensioners (NUP), Godwin Abumisi, has extended profound appreciation to President Bola Tinubu following the approval of N39.6 billion. This substantial sum represents the 10.6 per cent pension increase arrears owed to beneficiaries under the Defined Benefit Scheme. Abumisi conveyed his sentiments during an interview with TVC News, which took place shortly after the Pension Transitional Arrangement Directorate (PTAD) and the Ministry of Finance publicly announced the disbursement on Friday.

According to Abumisi, this particular gesture, in conjunction with other governmental interventions concerning pensions, has significantly bolstered trust in the current administration's dedication to the well-being of Nigeria's senior citizens. He expressed immense satisfaction, stating, “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.”

The leader of the pensioners detailed additional efforts attributed to President Tinubu. These include a N758 billion release designated for the arrears of pension and gratuity due to contributory pensioners under the Contributory Pension Scheme, as well as N58 billion allocated for the settlement of pension arrears for individuals on the Defined Benefit Scheme. Abumisi further elaborated, saying, “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.”

When questioned about whether these developments have solidified pensioners' confidence in the government, Abumisi affirmed that the administration has demonstrated a consistent commitment to the timely payment of monthly pensions since assuming office. He remarked, “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 also noted that pensioners no longer face the customary delays that previously characterized pension administration across the nation. “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 added.

Abumisi subsequently called upon fellow pensioners to maintain their allegiance to the government and to lend their support to President Tinubu's re-election campaign in anticipation of the 2027 general election. He advised, “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.”

Earlier on Friday, the Federal Government had officially announced the settlement of over N39 billion in inherited pension liabilities. These debts were owed to former employees of defunct entities such as the Nigerian Telecommunications Limited (NITEL), Mobile Telecommunications Limited (MTEL), Power Holding Company of Nigeria (PHCN), Assurance Bank, NICON, and the defunct People’s Bank of Nigeria.

According to information from PTAD, these payments comprise N25.05 billion, which covers a 35-month pension liability for 9,675 eligible NITEL/MTEL pensioners. Also included is N9.48 billion, representing the initial 50 per cent payment of Back End Computation arrears for 3,959 PHCN pensioners. Furthermore, N5.09 billion was disbursed to cover the outstanding balance of the 10.66 per cent and 12.95 per cent pension increment arrears for 11,180 pensioners from Assurance Bank, NICON, NITEL, and People’s Bank.

Tolulope Odunaiya, the Executive Secretary of PTAD, characterized these disbursements as a tangible manifestation of the government's Renewed Hope Agenda. She further noted that presidential approval for the settlement was granted in August 2025, with the necessary funds subsequently provided through the 2026 Appropriation Act.