President Bola Tinubu has directed the immediate implementation of pension increases and free healthcare access for low-income retirees under the Contributory Pension Scheme (CPS). This policy shift, aimed at enhancing the welfare of retired Nigerians, aligns with the administration’s broader social protection agenda. The directive came after a strategic briefing from Ms Omolola Oloworaran, Director-General of the National Pension Commission (PenCom), at the State House in Abuja.
The President’s directive underscores the urgent need to uphold the dignity of senior citizens, particularly those with limited financial means. According to presidential adviser Bayo Onanuga, Tinubu emphasized that retirees deserve support and access to basic services after dedicating their lives to national service. He called for a fast-tracked rollout of healthcare coverage for low-income pensioners, as well as the full implementation of long-overdue pension adjustments and a guaranteed minimum pension.
A significant focus of the announcement was on resolving issues affecting retired police officers under the CPS. In recent weeks, disgruntled ex-police personnel staged protests in Abuja, Edo, and Kwara, demanding their removal from the scheme. Labeling the CPS a “killer scheme,” many retirees claim it has left them impoverished. President Tinubu urged PenCom to find a lasting solution to this challenge, insisting that law enforcement officers must retire with dignity and peace of mind.
PenCom’s leadership also presented updates on ongoing measures to protect the value of pension fund assets in the face of rising inflation and economic instability. In addition, plans were disclosed to enable Nigerians in the diaspora to contribute to the pension system using foreign currencies, broadening the reach and resilience of the national pension framework.
President Tinubu reiterated his administration’s commitment to inclusive economic growth, with a focus on safeguarding the welfare of the elderly and vulnerable populations. The directive represents a significant step toward reforming Nigeria’s pension system, ensuring social equity, and reinforcing the government’s promise to deliver a more secure and supportive post-retirement life for all citizens.