Pensioners Commend Tinubu Over N39.6bn Pension Arrears Payment

The Nigeria Union of Pensioners (NUP) has praised President Bola Tinubu for approving the payment of N39.6 billion in outstanding pension increase arrears owed to retirees under the Defined Benefit Scheme.

Speaking after the Pension Transitional Arrangement Directorate (PTAD) and the Ministry of Finance announced the disbursement on Friday, the union's National President, Godwin Abumisi, described the move as another demonstration of the Federal Government's commitment to improving the welfare of pensioners.

Abumisi said the payment, alongside previous interventions by the administration, had restored confidence among retirees. He noted that the government had also released N758 billion to settle pension and gratuity arrears for contributors under the Contributory Pension Scheme, as well as N58 billion for pension arrears under the Defined Benefit Scheme.

According to him, pensioners have experienced more regular monthly payments since Tinubu assumed office, with delays that once plagued pension administration significantly reduced.

The union leader thanked the President for prioritising the welfare of elderly citizens and expressed hope that more measures would be introduced to further improve retirees' living conditions.

Abumisi also urged pensioners across the country to continue supporting the current administration and back Tinubu's bid for re-election in the 2027 general elections.

Meanwhile, the Federal Government announced that over N39 billion had been paid to clear inherited pension liabilities affecting retirees of the defunct Nigerian Telecommunications Limited (NITEL), Mobile Telecommunications Limited (MTEL), Power Holding Company of Nigeria (PHCN), Assurance Bank, NICON and the defunct People's Bank of Nigeria.

According to PTAD, the payments include N25.05 billion for 9,675 eligible NITEL/MTEL pensioners, N9.48 billion as the first phase of Back End Computation arrears for 3,959 PHCN pensioners, and N5.09 billion covering outstanding pension increment arrears for 11,180 pensioners from Assurance Bank, NICON, NITEL and People's Bank.

PTAD Executive Secretary Tolulope Odunaiya said the payments reflect the Federal Government's Renewed Hope Agenda, noting that approval for the settlement was granted in August 2025, with funds provided through the 2026 Appropriation Act.

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