The Federal Government has disbursed N8.6bn as arrears of the N32,000 pension increment approved by President Bola Ahmed Tinubu in 2024.
The Pension Transitional Arrangement Directorate (PTAD) Head of Corporate Communications, Olugbenga Ajayi, disclosed this in a statement on Monday.
According to her, the funds were allocated to 148,625 eligible Defined Benefit Scheme (DBS) pensioners spanning several sectors, including the Police, Civil Service, Parastatals, Customs, Immigration, and Prisons Pension Departments.
He noted that PTAD had previously settled arrears related to the first increment of 20% to 28%, which came into effect in January 2024.
A breakdown of the payment shows that N5.7bn was paid to 59,342 eligible pensioners under the Parastatals Pensions Department, while N2.3bn went to 71,084 pensioners under the Civil Service Pensions Department.
Additionally, N310m was paid to 9,579 retirees from the Police Pension Department, and N276m was disbursed to 8,620 pensioners from the Customs, Immigration and Prisons Pension Department.
Ajayi emphasized that this disbursement reaffirms the government’s commitment to addressing pension obligations efficiently.
Speaking on the latest payments, PTAD’s Executive Secretary, Tolulope Odunaiya, assured pensioners that the Federal Government remains dedicated to fully settling the outstanding balance associated with the increment.
Odunaiya further disclosed that the government would continue rolling out initiatives to enhance pensioners’ welfare in alignment with President Tinubu’s Renewed Hope Agenda.
