The Federal Government has disbursed N8.6 billion as part of the arrears from the N32,000 pension increment approved by President Bola Tinubu in 2024.The Pension Transitional Arrangement Directorate (PTAD) disclosed this in a statement on Monday signed by its Head of Corporate Communications, Olugbenga Ajayi.
According to the agency, the latest payment covers 148,625 eligible retirees under the Defined Benefit Scheme. Beneficiaries include pensioners from the Civil Service, Police, Parastatals, and the Customs, Immigration and Prisons (now Correctional Service) pension departments.
A breakdown of the disbursement shows that:
- N5.7 billion was paid to 59,342 retirees under the Parastatals Pensions Department;
- N2.3 billion went to 71,084 retirees under the Civil Service Pensions Department;
- N310 million was paid to 9,579 Police pensioners;
- N276 million was disbursed to 8,620 retirees under the Customs, Immigration and Prisons Pensions Department.
PTAD’s Executive Secretary, Tolulope Odunaiya, described the disbursement as a testament to the government’s ongoing commitment to settling outstanding pension obligations.
She added that the move aligns with President Tinubu’s Renewed Hope Agenda, which prioritises improved welfare for Nigerian pensioners.
Earlier in the year, PTAD also completed the payment of arrears arising from the 20% and 28% pension increment approved in January 2024.
