The Director-General of the Michael Imoudu National Institute for Labour Studies (MINILS), Comrade Issa Aremu, has lauded President Bola Ahmed Tinubu’s approval of a ₦758 billion bond to settle long-standing pension liabilities, describing it as a “timely and commendable act of compassion, statesmanship, and good governance” within Nigeria’s pension system.
Speaking on the sidelines of the 2025 Ramadan Annual Lecture organised by the Nigerian Television Authority (NTA) in Ilorin, Aremu noted that while previous administrations had allowed pension arrears to accumulate, Tinubu’s decisive action in clearing the debt signalled a major step forward. He noted that the ₦758 billion allocation represents one of the most significant labor market interventions under the Renewed Hope Agenda, following the enactment of the 2024 National Minimum Wage Act.
Read Also: Nigerian Government Approves N758b Pension Clearance Bond
Aremu further stressed that the Federal Executive Council’s (FEC) approval of the bond marks a historic milestone in Nigeria’s pension administration, positioning it as the largest federal pension bond in the country’s history.
He therefore urged state governments to emulate the federal government in settling the claims of pensioners in the states, adding that millions of retired workers “suffered avoidable delayed and low pension incomes.”
Aremu said all efforts to fight systemic corruption will not yield the desired result until “Nigeria intentionally secures life after work for the working people.
“Some of the anxiety for cutting corners, both for senior and junior workers, is caused by the fear of what happens after active work with poor unpaid pensions; one key instrument to therefore fight corruption will be an enhanced, expanded paid pension arrears, as the President has commendably done for the Federal workforce.”
MINILS Director General commended PenCom under the leadership of Director General, Ms. Omolola Oloworaran, who he said has promoted activist corporate governance by engaging relevant authorities to resolve pension liabilities in ways that have restored the dignity of public retirees and reinforced trust in the 30-year-old Contributory Pension Scheme (CPS).
Comments are closed.