ABUJA — President Bola Tinubu has directed the immediate implementation of pension increases and a minimum pension guarantee for retirees under the Contributory Pension Scheme (CPS), following nationwide concerns and a recent protest by retired police officers in Abuja.
In addition to the pension reforms, Tinubu also ordered a fast-tracked rollout of free healthcare services for low-income retirees across Nigeria.
Presidential spokesperson Bayo Onanuga, in a statement issued on Wednesday, disclosed that the directives came after Tinubu received a briefing from the Director General of the National Pension Commission (PenCom), Omolola Oloworaran.
The President specifically instructed PenCom to resolve the long-standing grievances of retired police officers, stressing that those who have dedicated their lives to securing the country must be allowed to retire with dignity and peace of mind.
“The President urged the management of PenCom to immediately resolve the longstanding police pension issue,” the statement read.
During the meeting, Oloworaran outlined key reforms being rolled out to protect the value of pension funds amid rising inflation and economic pressures. One of the highlights was a proposal to allow Nigerians in the Diaspora to contribute in foreign currencies, expanding the reach and flexibility of the pension system.
President Tinubu endorsed the reforms, reaffirming his administration’s commitment to inclusive growth and improved social security for ordinary Nigerians.
The new directives come on the heels of a protest in Abuja by retired police officers who demanded better welfare and retirement benefits.
Oloworaran also briefed the President on a broader suite of initiatives aimed at enhancing retiree welfare and strengthening the long-term sustainability of the pension scheme.
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