President Bola Tinubu
President Bola Tinubu has just approved some major boosts for Defined Benefit Scheme (DBS) pensioners under his “Renewed Hope Agenda.”
This comes after Tolulope Odunaiya, Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), made a formal request for emergency budget tweaks.
The President has greenlit extra budget cash for new pension rates for DBS pensioners.
He’s also pushing for a pension harmonization policy in the 2026 budget and health insurance coverage for all DBS pensioners. Plus, unpaid liabilities owed to NITEL/MTEL pensioners and other parastatal retirees are getting addressed in the 2026 proposal.
Tolulope Odunaiya praised President Tinubu for these “far-reaching and historic approvals.”
She said, “These approvals are a testament to the Renewed Hope Agenda’s focus on equity, social justice, and the dignity of our pensioners.”
Odunaiya called it a “turning point in DBS pension administration”.
The reforms include a N32,000 pension increment, plus 10.66% and 12.95% increases for pensioners of defunct and privatized agencies. PTAD says these measures will roll out in phases with help from other government agencies .
DBS pensioners are getting enrolled in the National Health Insurance Scheme (NHIS), easing the burden of healthcare costs.
Pension harmonization aims to remove inequities and ensure fair treatment for all retirees, regardless of their service origin.
PTAD reassured pensioners of continued dedication to improving welfare.
These reforms mark a “new era in DBS pension management” with a focus on senior citizens’ dignity and security, according to Odunaiya .
