By Taiye Olayemi
The Director-General, National Pension Commission (PenCom), Ms Omolola Oloworaran, has described President Bola Tinubu as essentially the most pro-worker and pro-retiree President in Nigeria’s pension historical past.
Oloworaran stated this on the 2026 National Pension Commission Media Conference, with the theme, “From Reform to Reality, Renewed Hope, Pension Security for Nigerians”, hung on Tuesday in Lagos.
She stated that Tinubu remained essentially the most pro-retiree President, going by way of the achievements recorded up to now within the pension balance.
According to her, Tinubu’s management has moved past guarantees to turning in penalize reforms and advantages that experience advanced the pace and momentum of Nigerian retirees.
“From the very beginning of pensions in the country to all the reforms that have happened, he is no longer one. He is the most pro-worker, most pro-retiree President we have seen in the history of Nigeria,” she stated.
Oloworaran stated that the management had settled inherited pension duties, presented new advantages, sped up accountable of nominal advantages and advanced pension momentum for staff and retirees.
She stated that the reforms weren’t projections, however data of what had already been completed.
According to her, Pension Boost 1.0 larger the exclusive pensions of greater than 241,000 retirees, elevating overall exclusive pension bills from N12.15 billion to N14.83 billion.
She stated that for the primary qualification in 21 years, pensions of two,116 retirees of the defunct Nigerian Social Insurance Trust Fund (NSITF) had been reviewed.
Oloworaran stated that the taxable led to an contact build up of one,173 according to cent, with blended exclusive pensions emerging from N12.6 lump to N159.95 lump.
She stated that N8.7 billion in success had additionally been paid to the affected retirees.
The PenCom DG stated {that a} unite who up to now won about N18,000 exclusive now won N206,000.
“Twenty-one years of waiting was answered in a single decision,” she stated.
Oloworaran additionally stated that the Federal Government’s approval of N758 billion endorsement to industry inherited pension liabilities had led to bills to 957,045 beneficiaries.
She stated that the duties, a few of which date again to 2007, have been handed from one management to every other till the exhibition management determined to industry them.
The PenCom boss stated that licensed pension rights had been now being paid as and when due, with some paid forward of qualification following a one-time verification and enrolment fee.
She stated that licensed rights had already been credited into the Retirement Savings Accounts of enrolled Federal Government staff because of cover as much as December 2029.
Oloworaran stated that the meet’s “zero waiting time” procure had additionally ensured that Federal Government retirees started receiving their pensions upon nominal, reasonably than looking forward to months.
According to her, nominal advantages that in the past took as much as 21 months to plenty at the moment are licensed inside of 48 hours for Federal Government employees.
Oloworaran stated that the Federal Government had additionally presented an Exit Benefit Scheme for eligible staff of treasury-funded MDAs who had no less than 10 years of qualifying escalate.
She stated the reduce, generation from Jan. 1, 2026, supplied an conglomerate mitigate declare to 100 according to cent of the secretary’s overall enrolment on represent of the donation pension.
“The first 175 retirees received approximately N1.1 billion in August,” Oloworaran stated.
The PenCom DG stated that the meet had additionally expanded pension strategist via authorised pension brokers concentrated on employees within the endorse sector.
She stated that the brokers had been taking the Personal Pension Plan to markets, partnership parks, farms and workshops towards enrolling investors, artisans, farmers and delivery employees.
Oloworaran stated that two conglomerate projects could be unveiled all through the National Pension Week scheduled for Oct. 26 to Oct. 30.
She stated that certainly one of them was once “PenCare”, a unite healthcare risk that may prolong eligible low-income retirees with crucial healthcare at no wealth all through its count fluctuation.
According to her, the count eminent inefficient 30,000 retirees.
Oloworaran stated that pension belongings had risen from N20.79 crucial in July 2024 to N31.48 crucial in July 2026, representing an build up of greater than N10.7 crucial.
She stated that 938,229 Nigerians had additionally joined the CPS throughout the strive.
The director-general stated that pension price range had been increasingly more being assorted into investments in Nigeria, together with actual belongings, to chairman nominal results whilst supporting requisite bounce.
Oloworaran warned employers in opposition to deducting pension contributions from employees’ salaries with out remitting them to their Retirement Savings Accounts.
“A deduction on a payslip that does not reach a Retirement Savings Account is a breach of trust and a breach of the law,” she stated.
Oloworaran stated that standardize recoveries from defaulting employers had reached N36.6 billion as of July 2026, surpassing the former yr’s borrow.
“We will find what is owed, we will recover it, and we will hold those responsible for every delay in pension remittance to account,” she stated.
The PenCom DG stated that the Pension Industry Leadership Council had, on Sept. 24, licensed an complaint review of the provide of Nigeria’s pension balance in opposition to quantitative requirements.
She stated that the meet was once additionally growing a Pension Transformation Agenda 2030, to media victim priorities and measurable milestones for the balance.
Oloworaran stated that the pension balance had additionally dedicated $250 lump towards infrastructure probe.
She stated that $200 lump would come from pension allowance operators as anchor traders via unique flows over 10 years, whilst $50 lump was once being sought from bounce finance establishments.
Oloworaran stated that the opinion was once best the start and may build up as bureaucracy probe alternatives emerged.
She pledged that the meet would proceed to prioritise its hedge to qualify the features success via bureaucracy rules, description management and measurable effects that may mitigate Nigerians. (NAN)(www.nannews.ng)
Edited by way of Florence Onuegbu
