Governance
Tinubu Approves Key Measures for Defined Benefit Scheme Pensioners
By Iyojo Ameh
President Bola Tinubu has approved a series of measures aimed at improving the welfare of pensioners under the Defined Benefit Scheme (DBS), as part of his Renewed Hope Agenda.
The Head of Corporate Communications at the Pension Transitional Arrangement Directorate (PTAD), Mr. Olugbenga Ajayi, disclosed this in a statement on Friday in Abuja.
According to Ajayi, the President authorised the immediate implementation of an extra-budgetary allocation to fully enforce new pension rates for DBS pensioners. He also approved the adoption of a proposed pension harmonisation policy in the 2026 pension budget.
In addition, provision has been made for health insurance coverage for all DBS pensioners in the 2026 budget, alongside the inclusion of unpaid liabilities owed to NITEL/MTEL pensioners and other parastatal retirees.
PTAD’s Executive Secretary, Tolulope Odunaiya, described the approvals as “far-reaching and historic,” noting that they demonstrate the President’s strong commitment to the welfare of senior citizens and signal a new era in DBS pension management.
Odunaiya had earlier submitted a formal request to the Presidency for emergency budgetary allocation to implement pension reforms, including:
A new pension rate of ₦32,000.
Increases of 10.66% and 12.95% for pensioners of defunct and privatised agencies.
Pension harmonisation for all DBS pensioners.
Enrolment in the National Health Insurance Scheme (NHIS).
Settlement of unfunded pension liabilities owed to retirees of defunct agencies and Treasury-funded parastatals.
