Federal Gov’t Unveils N750bn Pension Bond

Federal government has reaffirmed its commitment to enhancing civil servants’ welfare through key initiatives, including a ₦750 billion Pension Bond Bill currently awaiting passage at the National Assembly and plans to revitalise the Nigerian Social Insurance Trust Fund (NSITF).

This was made known on Wednesday in Abuja by the permanent secretary of the Service Welfare Office (SWO), Mrs Patience Oyekunle, in her keynote address at the quarterly forum with organised unions in the ministries.

The forum, organised by the Office of the Head of the Civil Service of the Federation (OHCSF), brought together union leaders from across federal ministries and representatives of essential agencies such as the National Health Insurance Authority (NHIA), NSITF and the National Pension Commission (PenCom).

Oyekunle, who highlighted the government’s comprehensive welfare strategy, said the meeting was part of the government’s broader approach to fostering and strengthening partnerships with the workforce.

She commended the union leaders for their commitment to fostering industrial harmony and peaceful engagement, emphasising that meaningful progress is best achieved through collaborative dialogue, shared responsibility, and ongoing engagement.

The permanent secretary outlined several significant programs that are vital elements of the Federal Civil Service Strategy and Implementation Plan for 2021–2025. These initiatives, she said, aim to enhance employee morale, increase efficiency, and create a solid safety net for government workers.

“In this regard, as part of our resolve to ensure full implementation of the Federal Civil Service Strategy and Implementation Plan 2021 – 2025, which identified Staff Welfare as pillar No. 6, this government has so far invested in Staff Welfare matters, amongst which to mention a few.

“Approval of the Group Life Assurance for all federal government employees by the Federal Executive Council. Mr President’s Bill to the National Assembly on the Pension Bond, worth over N750 billion for the payment of Pension and Gratuity of Staff, which is awaiting passage at the National Assembly.

“Resuscitated the Nigerian Social Insurance Trust Fund for the effective implementation of the Employee Compensation Scheme. We have also repositioned the Wellness Centre in the OHCSF Complex for free medical services. Free Consultations and Medication are given to patients who visit the centre.

“We have also reviewed the Rewards and Recognition Policy to entrench a performance-driven culture that promotes excellence, innovation, dedication, and high productivity across the Service. Deserving Officers are recognised and rewarded accordingly.

“Most importantly, we ensure that an open-door policy is in place to bridge the gap between the government and the unions.  Two ways of communication are maintained between the government and the union for industrial harmony,” she said.

Oyekunle, who affirmed that the programmes explained the government’s relentless commitment to civil service welfare, said that the policies and programs are just a few of the impactful initiatives approved and in progress, with more to come.

She recognised the vital role of desk officers and union leaders as frontline actors in interpreting and executing civil service welfare policies, a notion supported by recent inter-agency cooperation efforts.

Oyekunle urged union leaders to inform their members about the available government programmes, reminding them to stay true to their roles as civil servants first before anything else.

“I urge you to maintain civility and compliance with existing rules in your union activities,” she advised.

The permanent secretary further expressed her gratitude to the Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, for her visionary leadership and unwavering dedication to advancing innovative and inclusive welfare programmes.

“Mrs Walson-Jack is currently leading preparations for Nigeria to host the esteemed 2025 International Civil Service Conference Week,” she said.

She thanked the union leaders and partner agencies for their essential collaboration, stating that cooperation is crucial as the government strives to cultivate a more resilient, inclusive, and responsive civil service.