The National Pension Commission PenCom has tagged the approval and disbursement of N758bn to clear all outstanding pension liabilities by President Bola Tinubu as one of the most historic milestone in the last 20 years since the Pension Reform Act was implemented.
Setting the theme of the Pension Revolution Summit in Lagos, PenCom Director General, Ms Omolola Oloworaran opened the 365 Days Scorecard with a remark that the “unprecedented intervention sent a clear and powerful signal that Nigeria honours its promises to its workers and retirees.” Giving account of the stretch of payment she said, “We also cleared long outstanding pension increase backlogs for Federal Government funded treasury retirees, some dating as far back as 2007. What many believed would never have been paid has now been paid.”
In addition, Omolola said it is now zero waiting time for payment of accrued rights and this was restored with effect from July 2025. “Meaning you retire, you get paid immediately provided you met all documentation requirements. We eliminated this completely. And am here to tell that this is here to stay. The days of delays in benefits payments to our retirees is over.
“To further enhance pension adequacy, we introduced pension boost 1.0 at the middle of the year which has already added N2.6bn to monthly pension payment across board for contributory pension scheme retirees. These are not just snapshots, they are meals on tables, medicines purchased, dignity preserved and debt paid up,” she cleared.
She disclosed that the pension assets under management have grown to about N27tr, at the end of November, 2025 driven by reforms under the Pension Revolution 2.0 agenda, which “is a process in motion and irreversible.” assuring that “together we are building a pension system that is inclusive, resilient, transparent and trusted by every single Nigerian.”
