After years of pain, despair and endless waiting, relief has finally come.
President Bola Ahmed Tinubu has done what successive governments failed to do for 19 years – paid a whopping N758 billion to clear pension arrears dating back to 2007.
Most Pro-Worker President In History
Director-General of the National Pension Commission, Mrs Omolola Oloworaran, announced the historic feat in Lagos, declaring Tinubu the most pro-worker and pro-retiree President Nigeria has ever had.
“From the very beginning of pensions to all reforms, he is the most pro-worker, most pro-retiree president we have seen in the history of Nigeria. This is not open for debate,” she thundered.
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She said the N758 billion Federal Government Pension Bond reached 957,045 Nigerians, restoring trust that government can keep its word.
From 21 Months Wait To 48 Hours
Oloworaran revealed more good news. Benefits that took 21 months to process are now approved within 48 hours under a zero-waiting-time policy. Approved rights have already been credited to federal workers due to retire up to December 2029.
Under Pension Boost 1.0, over 241,000 retirees got increments, pushing monthly payments from N12.15bn to N14.83bn.
In a dramatic move, NSITF pensioners who had not seen a review in 21 years since 2005 got a 1,173% increase – from N12.6m to N159.95m combined monthly. One retiree jumped from N18,000 to N206,000. FG also paid N8.7bn arrears.
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From January 2026, treasury-funded workers with 10 years service will get 100% of total emolument as exit benefit. First 175 retirees already got N1.1bn in August.
PenCom also recovered N36.6bn from employers who deducted but failed to remit pensions.
