₦airaland Forum

The Federal Government has announced the payment of more than N39 billion in inherited pension liabilities owed to thousands of pensioners under the Defined Benefit Scheme, saying the settlement fulfils President Bola Tinubu’s commitment to clearing longstanding pension debts.

The payment, announced on Friday by the Pension Transitional Arrangement Directorate, covers outstanding liabilities owed to pensioners of the defunct Nigerian Telecommunications Limited, Mobile Telecommunications Limited, Power Holding Company of Nigeria, Assurance Bank, NICON and the defunct People’s Bank of Nigeria.

According to PTAD, the payments include N25.05 billion representing a 35-month pension liability owed to 9,675 eligible pensioners of the defunct NITEL/MTEL, N9.48 billion representing the initial 50 per cent payment of Back End Computation arrears to 3,959 eligible PHCN pensioners, and N5.09 billion covering the balance of the 10.66 per cent and 12.95 per cent pension increment arrears due to 11,180 eligible pensioners of Assurance Bank, NICON, NITEL and People’s Bank.

The directorate described the development as a major milestone in the Federal Government’s efforts to improve the welfare of pensioners under the Renewed Hope Agenda.

Speaking on the development, PTAD Executive Secretary, Tolulope Odunaiya, thanked Tinubu for what she described as his steadfast support for pension administration.

She said, “These landmark achievements mark yet another significant milestone in the Federal Government’s unwavering commitment to safeguarding the welfare and dignity of Defined Benefit Scheme pensioners. It is a clear demonstration of the visionary leadership of His Excellency, President Bola Ahmed Tinubu, whose Renewed Hope Agenda places priority on social protection, inclusive governance, and the well-being of senior citizens.”

Odunaiya added that the President’s intervention had restored confidence in the Defined Benefit Scheme by resolving years of inherited liabilities.

“Under the President’s leadership, the Directorate has successfully resolved all longstanding inherited pension liabilities, bringing lasting relief to thousands of Defined Benefit Scheme pensioners,” she said.

The PTAD boss disclosed that the payments followed presidential approval granted to the directorate in August 2025, with the required funds later provided through the 2026 Appropriation Act.

According to her, “The successful liquidation of these liabilities underscores the Federal Government’s resolve to sustain pension reforms and ensure that Defined Benefit Scheme pensioners receive their rightful entitlements in a timely manner, consistent with the objectives of the Renewed Hope Agenda.”

She also expressed appreciation to pensioners for their patience while the outstanding obligations were being addressed.

“The Directorate sincerely appreciates all affected Defined Benefit Scheme pensioners for their patience and confidence throughout the period the liabilities remained outstanding. PTAD remains dedicated to sustaining efficient, transparent and pensioner-centred service delivery, reinforcing the Federal Government’s commitment to safeguarding the dignity and well-being of all Defined Benefit Scheme pensioners,” Odunaiya said.

The settlement is the latest in a series of measures by the Federal Government aimed at addressing inherited pension obligations and strengthening confidence in the country’s pension administration system.

Olofofo247ng:
PAID IN FULL!

₦25.05 billion. A 35-month pension liability. 9,675 former NITEL/MTEL workers who had waited long enough.

In August 2025, President Bola Ahmed Tinubu approved the funds to clear this inherited obligation. The funding was provided under the 2026 Appropriation Act. Today, that debt is being fully settled.

And that is not all.

Another ₦9.48 billion has been paid as the initial 50% of Back End Computation arrears to 3,959 eligible PHCN pensioners, while ₦5.09 billion has cleared the final 50% balance of the 10.66% and 12.95% pension increment arrears owed to 11,180 eligible pensioners of Assurance Bank, NICON, NITEL and People’s Bank.

Total: ₦39.63 billion.

There is, of course, an irony too delicious to ignore.

One of the loudest men now auditioning to rescue Nigeria, Alhaji Atiku Abubakar @atiku of the ADC, once chaired the National Council on Privatisation in the years when NITEL was dragged through one botched sale after another, one failed arrangement after another, one management fiasco after another, including the infamous Pentascope management contract.

The arrangements collapsed. NITEL collapsed. Workers were left with the consequences.

Even Alhaji Atiku Abubakar has publicly acknowledged the succession of failed NITEL sales and turnaround arrangements.

The deals failed. The company died. The workers waited.

Now, more than two decades later, President Bola Ahmed Tinubu is paying the human bill left behind, including a ₦25.05 billion, 35-month pension liability owed to the people who had waited long enough.

That is the difference between selling an asset and settling a debt. Between making arrangements and taking responsibility.

Some people sold the future and left the workers a bill.

President Tinubu is paying the bill.

Promises are easy. Pensions are not.

Paid. Settled. Closed.

Source: https://x.com/i/status/2072997463628116246

MamaFryo:
I have been meticulously following this issues long before Tinubu got into Aso Rock.

I know that the Obidients would see this from another perspective. But whichever angle that they choose to see it, nobody should diminish the significance of paying pensioners what they are legally owed. If truly, the Federal Government has settled N39.63 billion in outstanding pension liabilities, that is a welcome development. Pensioners should never have had to wait this long.

But Nigerians should also reject the attempt to rewrite history for political convenience.

The collapse of NITEL was not the handiwork of one man. It was a cocktail of years of bad governance (some of which the APC government played a role), political interference, failed reforms, weak management, corruption and multiple unsuccessful privatisation efforts across different administrations. Again, reducing that complex history to “Atiku sold NITEL, Tinubu paid the bill” is political propaganda, not serious historical analysis at all. Don’t do this!

More importantly, please and please, these pensions are not acts of charity by any President. They are LEGAL obligations owed by the Nigerian state to workers who earned them decades ago. Governments are continuous. When today’s government pays yesterday’s debts, it is fulfilling a constitutional responsibility. It not doing pensioners any personal favour.

Does this current administration deserves credit for finally paying these arrears. Big YES. But it does not need to manufacture a political villain to justify doing what every responsible government ought to have done years ago. We need to move away from this Akara and Kuli Kuli type politics.

Public communication should inform citizens, not use pensioners’ hardship as campaign material. I tell you this for a fact, Nigerians deserve facts, context and accountability, not trying to give us all this selective history packaged as political triumph.


Wetin I even know sef? I am just an ordinary Nigerian Policewoman.