Breaking: President Tinubu Directs Urgent Action On Pension Increase Nationwide

President Bola Tinubu has directed the immediate implementation of an increase in pensions, along with the establishment of a minimum pension guarantee under the Contributory Pension Scheme (CPS), aimed at providing a safety net for the most vulnerable retirees.

In addition, the President ordered the swift launch of a free healthcare access program for low-income pensioners enrolled in the CPS. He described the initiative as a vital part of his administration’s commitment to social protection and ensuring dignity for Nigerians in retirement.

According to a statement released on Wednesday by presidential spokesperson Bayo Onanuga, the directives followed a briefing from the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran.

During the meeting, President Tinubu also instructed PenCom to urgently resolve the long-standing police pension issues, stressing that officers who have dedicated their lives to national service deserve to retire in comfort and with respect.

The PenCom DG also informed the President of current efforts to safeguard the value of pension fund assets amid rising inflation and economic challenges. Additionally, she shared plans to allow foreign currency contributions, enabling Nigerians in the diaspora to participate in the national pension system.

President Tinubu expressed strong support for the ongoing pension reforms and reiterated his administration’s commitment to inclusive economic growth and greater protection for ordinary citizens.

The briefing also highlighted a range of transformative initiatives aimed at improving the welfare of retirees and expanding the reach of the pension scheme nationwide.