…Orders Immediate Pension Hike, Fix for Police Pensions
In a bold move to strengthen Nigeria’s social safety net, President Bola Ahmed Tinubu has approved free healthcare services for low-income retirees under the Contributory Pension Scheme (CPS), while also ordering the immediate implementation of a long-overdue pension increase.
The President made the directive on Wednesday after a high-level briefing with the Director-General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, at the State House, Abuja.
Describing the move as a “critical step toward restoring dignity in retirement,” Presidential spokesman Bayo Onanuga said the healthcare initiative would prioritize retirees grappling with economic hardship.
Pension Boost for Vulnerable Retirees
As part of the directive, President Tinubu also called for the activation of a Minimum Pension Guarantee—a measure designed to ensure that the most financially vulnerable retirees receive a baseline income, regardless of prior contributions.
“Retirees must not be left behind in our drive for inclusive growth,” Tinubu stated.
The move is seen as a response to growing public pressure over the financial struggles many retirees face amid rising inflation and living costs.
Police Pensions in the Spotlight
Addressing another longstanding issue, the President ordered the urgent resolution of police pension irregularities, declaring that those who served the country in uniform deserve better treatment in retirement.
“The police deserve peace of mind in retirement after years of protecting lives and property,” he said.
Pension Reforms on the Horizon
During the briefing, PenCom DG Ms. Oloworaran presented ongoing reforms aimed at securing the value of pension fund assets and expanding coverage under the CPS. Notably, she revealed plans to introduce foreign currency pension contributions, opening a window for Nigerians in the diaspora to participate in the national scheme.
Other proposed reforms include:
- Strategies to broaden CPS inclusion
- Enhanced fund security mechanisms
- New welfare frameworks for retirees
President Tinubu voiced strong support for these reforms, reiterating his administration’s commitment to economic inclusion and social protection.
“This administration will not ignore the sacrifices of our senior citizens. Their welfare is a priority,” he affirmed.
Nationwide Impact Expected
The new initiatives are expected to bring immediate relief to thousands of low-income retirees across the country—many of whom have long called for improved access to healthcare and more dignified living conditions post-service.
This development forms part of the government’s broader agenda to cushion vulnerable populations as Nigeria navigates its path through economic recovery and social reform.
Bottom Line: Tinubu’s directive signals a major shift toward a more compassionate and inclusive retirement system—one where the nation’s senior citizens are not just remembered, but meaningfully supported.