Ogun State commits ₦157.9 billion to clear retiree pension obligations

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.

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.