President Bola Tinubu has approved the Pension Arrangement Directorate (PTAD) to include pension-related items in the 2026 budget proposal, including funding for the full implementation of the N32,000 pension increment and settlement of unfunded pension liabilities.
The approval also includes a Budgetary provision for the settlement of the proposed pension harmonisation policy and health insurance coverage for the Defined Benefit Scheme (DBS) pensioners.
According to a statement issued by the directorate yesterday, PTAD executive secretary Tolulope Odunaiya, made the disclosure when she hosted the House of Representatives Committee on Pensions on an official oversight visit to its PTAD headquarters in Abuja.
The engagement, led by the committee chairman, Jallo Hussaini Mohammed, was designed for the lawmakers to assess PTAD’s operations and review its budget performance for 2024 and the first half of 2025.
While giving an overview of the Directorate’s budget performance, she enumerated the key achievements of the Directorate on the successful implementation of the 20/28 per cent pension increment (WEF January 2024) into its September 2024 pension payroll and full settlement of the accrued arrears.
She said there was a continuous arrears payment of the N32,000, 10.66 per cent and 12.95 per cent pension increments with the available savings made from successive balances of funds in the pension sub-head after paying the monthly pension.
Reaffirming PTAD’s steadfast commitment to DBS pensioners, she acknowledged the invaluable partnership and oversight role of the National Assembly in strengthening pension administration in Nigeria. She also highlighted key challenges facing the Directorate and sought the Committee’s support in addressing them.
In his response, Mohammed commended PTAD for its strides in enhancing pension payments and improving service delivery. He assured that the committee would continue to work closely with PTAD to ensure the welfare of DBS pensioners remained a national priority.
