President Tinubu Approves Comprehensive Welfare Reforms for DBS Pensioners Under Renewed Hope Agenda
President Bola Ahmed Tinubu has given his approval to a series of strategic and far-reaching initiatives aimed at improving the quality of life and financial security of pensioners under the Defined Benefit Scheme (DBS), as part of his administration’s ‘Renewed Hope Agenda’.
This development was announced in a statement released on Friday in Abuja by Mr. Olugbenga Ajayi, who serves as the Head of Corporate Communications at the Pension Transitional Arrangement Directorate (PTAD). According to Ajayi, the President has authorized the immediate application of an extra-budgetary allocation. This is to ensure the full implementation of newly adjusted pension rates for all retirees enrolled in the DBS system.
Tinubu Approves New Pension measures
In addition, President Tinubu has approved the introduction of a harmonized pension policy to be incorporated into the federal government’s 2026 pension budget. This harmonisation policy seeks to align the pensions of DBS retirees to ensure fairness and consistency across the board, particularly for those from various government agencies, including those that have been privatised or are no longer in operation.
Furthermore, the 2026 budget will also include a provision for comprehensive health insurance coverage for all DBS pensioners, thereby extending access to critical healthcare services through the National Health Insurance Scheme (NHIS). This is a significant shift towards integrating healthcare support into the national pension welfare framework.
Another key feature of the approved reforms is the inclusion of outstanding pension liabilities that have long been owed to former employees of defunct telecommunications companies such as NITEL and MTEL, as well as retirees from other Treasury-funded parastatals. These debts are set to be addressed in the upcoming 2026 federal budget proposal.
The Executive Secretary of PTAD, Dr. Tolulope Odunaiya, commended President Tinubu for what she described as a landmark and historic decision. She stated that the President’s actions demonstrate a deep and genuine commitment to enhancing the well-being of senior citizens, who have served the nation and deserve dignity and financial security in retirement. Odunaiya emphasized that these measures signal a transformative era in the management of pension benefits under the DBS.
Urgencsy prior to Tinubu’s approves
Sources has it that prior to the President’s approvals, Dr. Odunaiya had submitted a formal request to the Presidency, seeking an emergency allocation of funds. This request was made to facilitate the implementation of a suite of essential pension reforms and welfare packages.
Among the proposals submitted were a new minimum pension rate of ₦32,000 and proportional increases of 10.66% and 12.95% for pensioners associated with now-defunct or privatised government agencies. The proposals also outlined comprehensive pension harmonisation measures and the automatic enrolment of eligible pensioners into the NHIS for improved access to healthcare services. Additionally, there were provisions aimed at clearing longstanding unfunded pension liabilities owed to retirees of government agencies and parastatals that are supported by Treasury allocations.
In sum, President Tinubu’s recent approvals represent a significant policy shift toward prioritizing the needs of retired government workers. These changes are expected to bring long-overdue relief to many elderly citizens and mark a major milestone in the reform of Nigeria’s pension administration system.
