Skip to main content
🇳🇬 Latest Nigerian News
Ogun State Launches Revolutionary Pension Initiative to Secure Retirees’ Future
Politics

Ogun State Launches Revolutionary Pension Initiative to Secure Retirees’ Future

📅26 February 2026 at 16:28
📰PUNCH
👁️0 views
Share:

Full Article Content Loaded

Complete article with 2,936 characters of detailed content

Full ArticleReading time: ~6 min411 words
ℹ️
Chrome Audio Reader: This audio reader has been optimized for Chrome's speech synthesis. If you experience issues, try using Edge or Firefox as they have more reliable speech synthesis.
Chrome Known Issues: Chrome sometimes has voice loading delays. The system will automatically retry with simplified settings if needed. For best results, try Edge or Firefox browsers.
🔇

Audio Reader

Not supported in this browser

The Ogun State Government has unveiled a landmark pension reform programme aimed at addressing longstanding grievances of retired civil servants and ensuring dignified post-service lives for workers across the state.

In a move described by labour unions and pension experts as a "giant stride" in workers’ welfare, the initiative seeks to right the wrongs of past administrations by clearing accumulated pension arrears and establishing a sustainable framework for prompt payment of retirement benefits.

Speaking on the development, officials within the state Ministry of Finance confirmed that the programme would prioritise retirees who have waited several years without receiving their entitlements. Many of these pensioners have reportedly faced severe hardships, with some unable to afford basic medical care and others struggling to meet daily living expenses.

"This administration recognises that our retirees dedicated their productive years to serving the state. It is only fair and just that we honour our obligations to them," a senior government official stated. "The new initiative will ensure that no retiree is left behind."

Under the new scheme, the government has committed to regular verification exercises to eliminate ghost pensioners while ensuring that genuine beneficiaries receive their dues without delay. The programme also includes provisions for improved healthcare access for elderly pensioners through partnerships with state-owned medical facilities.

Labour leaders in the state have welcomed the initiative, describing it as a refreshing departure from previous approaches that left retirees in penury. They however urged the government to maintain transparency in the implementation process and ensure that funds allocated for pensions are not diverted.

"We are cautiously optimistic. The promise is encouraging, but what matters most is consistent delivery. Our retirees have suffered enough," said a representative of the Nigeria Union of Pensioners, Ogun State chapter.

Analysts note that the Ogun State model could serve as a template for other states grappling with pension liabilities. With Nigeria’s pension industry facing systemic challenges, subnational governments that demonstrate commitment to retirees’ welfare may help restore confidence in public sector employment.

The initiative comes at a time when many state governments across the federation are struggling to meet pension obligations amid dwindling revenues. Ogun State’s approach of prioritising workers’ welfare despite fiscal constraints has drawn praise from governance watchers.

As implementation begins, stakeholders will be monitoring closely to ensure that the promises translate into tangible benefits for the thousands of retirees who have waited years for justice.

For now, the message from Abeokuta is clear: the dignity of retirees matters, and the government is prepared to back that conviction with action.

Article Details

📰Source: PUNCH
Content fetched on-demand for optimal performance
Enhanced with BBC-inspired formatting

Reading Statistics

2,936
Characters
411
Words

Share this story

Share:

Source: This article was originally published by PUNCH. All rights reserved to the original publisher.

Comments

Loading comments...

Leave a Comment

Related Stories

Stay Updated

Get the latest Nigerian news delivered to your inbox.

Trending Now