Ogun State Ends Pension Crisis, Delivers Historic Relief to Retirees



By Adesakin Adefemi

In a major victory for senior citizens, the Ogun State Government has announced the full settlement of all outstanding pension and gratuity arrears owed to workers who retired between 2012 and 2020, setting a new benchmark for public-sector welfare in Nigeria.

Finance Commissioner Dapo Okubadejo, speaking at a media parley on Tuesday, disclosed that the administration has so far disbursed ₦23.3 billion in gratuities and ₦93.26 billion in pensions under the Defined Benefits Scheme, alongside ₦94.78 billion to local‑government pensioners, bringing total pension‑related payments to over ₦211 billion in the past six years.

He explained that annual pension payments have surged from ₦6.7 billion in 2019 to ₦20 billion in 2025, with projections indicating a possible rise to ₦40 billion by 2029, reflecting the state’s expanding fiscal capacity and its resolve to protect senior citizens from financial hardship.

Okubadejo introduced the first‑of‑its‑kind Additional Pension Benefit (APB), a ten‑year one‑off top‑up for retirees whose accrued rights were delayed, noting that amendments to the state’s pension law will be pursued to formalize the scheme and embed it into future budgetary planning.

He assured that the remaining backlog will be cleared as internally generated revenue (IGR) continues to improve, and that over 300 workers who retired in July 2025 are currently receiving six‑month palliatives pending completion of their pension documentation, a measure designed to cushion immediate cash‑flow challenges.

The commissioner also revealed that the 2026 budget has expanded from ₦1.054 trillion in 2025 to ₦1.668 trillion, while Ogun’s economy grew from ₦3.5 trillion in 2019 to ₦18.96 trillion in 2026, underscoring a robust economic trajectory that supports social‑welfare commitments.

IGR itself has surged from ₦50 billion in 2019 to ₦240 billion in 2025, with projections of ₦512 billion this year, providing the fiscal space needed for the pension reforms and other developmental projects across the state.

Commissioner for Budget and Planning Olaolu Olabimtan added that the 2026 budget reflects strong fiscal reforms, noting an 85 percent budget execution rate in 2024 and sustained financial stability, which have earned Ogun commendations from national rating agencies.

Other sectoral commissioners highlighted achievements in road construction, healthcare funding, rail extension plans, education support programmes, and expanded housing projects, emphasizing that the pension breakthrough is part of a broader, people‑centered development agenda that aims to improve living standards for all residents of Ogun State.






Comments

Post a Comment

Popular posts from this blog

Kwara State PDP Youth Leader Condemns Abduction of Babanla Chief Imam, Demands Immediate Rescue

Image
By Adesakin Adefemi  The Kwara State PDP Youths, led by Comrade Adio Odunjo Friday Orlando, have strongly condemned the shocking abduction of the Chief Imam of Babanla and four other innocent residents by unknown gunmen. This heinous act has sent shockwaves across the community, creating fear, tension, and uncertainty among residents. The abduction has raised serious concerns about the security situation in the state, with many calling for increased measures to prevent such incidents. The PDP Youths are demanding the immediate rescue of the victims, calling on Governor AbdulRahman AbdulRazaq and security agencies to act swiftly and decisively. In a statement, Comrade Adio Odunjo Friday Orlando, the Kwara State PDP Youth Leader, described the kidnapping as "heartbreaking and kidnapping as "heartbreaking and completely unacceptable." He emphasized that no community in Kwara State should be subjected to this level of insecurity and that the perpetrators must be brought to j...
Read more

Yemi Like That! NANS President Shows Heart of Gold, Gifts Car to Late Comrade's Family

Image
By Adesakin Adefemi  The National Association of Nigerian Students (NANS) has once again proven that it is a family that cares, as the President, Comr. Olushola Ladoja gifted a car to the family of the late Yemi Adeniran, a member of the organization. This incredible gesture has left the family overwhelmed with gratitude and appreciation. The late Yemi Adeniran's wife, in a heartfelt expression of thanks, praised Comr. Ladoja for his extraordinary love and support since her husband's passing. She described his compassion and commitment to standing by people in their most difficult moments as truly inspiring. "Comr. Ladoja's gesture has reminded us that true leadership is about humanity, loyalty, and support," she said. The car provided by Comr. Ladoja will greatly support the family as they continue to move forward in life, and they are deeply grateful for this kind gesture. The late Yemi Adeniran's wife thanked Comr. Ladoja on behalf of herself and her childr...
Read more

Court Awards N5m As Damages For Disobeying Court Order In A Landmark Judgement Between UNCLE GEORGE LTD. Vs. GTBank

Image
By Kehinde Odinde A High Court of Justice sitting in Akure, Ondo State, has awarded ₦5 million in damages against Guaranty Trust Bank (GTBank) for failing to comply with a court order to reverse a ₦50 million erroneous transfer. The judgment is a significant blow to the bank's reputation and serves as a reminder of the importance of adhering to court orders. The case, Uncle George Ltd. V Guaranty Trust Bank Plc, was presided over by Hon. Justice (Prof.) Alero Akeredolu, who ruled that GTBank's failure to honour the Magistrate Court's order was a clear disregard for the rule of law. The court found that the bank had failed to reverse the transfer despite receiving court orders, and this failure had caused significant financial losses to the plaintiff. The court emphasized that GTBank's actions were unacceptable and an affront to the court's authority. The judgement is seen as a significant victory for the plaintiff and a reminder to financial institutions to respect ...
Read more