NUP president says payment of inherited pension liabilities reflects government’s commitment to pensioners’ welfare.
The National President of the Nigeria Union of Pensioners (NUP), Godwin Abumisi, has commended President Bola Tinubu for approving the payment of N39.6 billion in outstanding pension increase arrears owed to pensioners under the Defined Benefit Scheme.
Speaking after the Pension Transitional Arrangement Directorate (PTAD) and the Ministry of Finance announced the disbursement, Abumisi described the move as a major boost to pensioners’ welfare and praised the administration’s efforts in settling long-standing pension obligations.
He also highlighted other interventions by the Federal Government, including the release of N758 billion for pension and gratuity arrears under the Contributory Pension Scheme and N58 billion for pension arrears under the Defined Benefit Scheme, saying the administration had demonstrated an unprecedented commitment to retirees.
“We are very happy with the present government. No president in Nigeria has achieved as much as President Bola Tinubu,” Abumisi said, expressing optimism that the government would continue to prioritise the welfare of pensioners.
On Friday, the Federal Government announced the payment of over N39 billion in inherited pension liabilities owed to 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 payment includes N25.05 billion for 9,675 eligible NITEL/MTEL pensioners, N9.48 billion as the first 50 per cent payment of Back End Computation arrears for 3,959 PHCN pensioners, and N5.09 billion covering outstanding pension increment arrears for 11,180 pensioners of Assurance Bank, NICON, NITEL and People’s Bank.
PTAD Executive Secretary, Tolulope Odunaiya, said the payments reflect the Federal Government’s commitment to clearing inherited pension liabilities under the Renewed Hope Agenda, following presidential approval granted in August 2025 and funding provided through the 2026 Appropriation Act.m