Ogun State commits ₦157.9 billion to clear retiree pension obligations
What happened
Ogun State has committed ₦157.9 billion to pension-related payments since May 29, 2019, according to the state government. A recent release of ₦5.83 billion was approved to address outstanding retirement obligations. Of this new release, ₦4,906,950,967.98 is designated for gratuity payments to Local Government and State Universal Basic Education Board retirees, while ₦918,596,179.16 is earmarked for Additional Pension Benefits to eligible retirees under the Contributory Pension Scheme.
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Why it matters
The commitment reflects the state government's effort to progressively address outstanding retirement obligations for senior citizens. Cumulatively, the state has paid ₦29,116,988,743.64 in gratuity to 7,390 beneficiaries and ₦105,391,736,016.69 in pension payments to 16,420 beneficiaries.
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Who's involved
- Dapo AbiodunGovernor of Ogun State, overseeing the administration of the state.
- Ogun StateThe state responsible for administering and funding the retirement obligations.
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The entities involved
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Dapo Abiodun
Nigerian politician
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Ogun State
state of Nigeria
Related events
- Abiodun's administration promotes grassroots economic growth in Ogun State.
- The NUJ Ogun State Council held a meeting in Abeokuta, represented by Governor Dapo Abiodun.
- Abiodun, Governor of Ogun State, responded to suggestions made by the Nigeria Labour Congress.
- Dapo Abiodun promised to revitalize Olabisi Onabanjo University Teaching Hospital and laid a solid economic foundation in Ogun State.
- In 1995, Dapo Abiodun drove the state economic agenda in Nigeria, and Lagos was identified as a major market.