Gov. Abiodun’s Pension Boost Sparks Joy as Ogun Retirees Smile Home with Up to 280% Benefits
Hundreds of retirees in Ogun State were all smiles as the State Government rolled out a landmark pension reform designed to significantly improve their financial security after years of service.
Governor Dapo Abiodun has introduced a welfare-driven initiative under the Contributory Pension Scheme (CPS), ensuring retirees receive between 116 per cent and 280 per cent of their Total Annual Emoluments (TAE)—a move widely seen as restoring dignity and hope to senior citizens.
At the cheque presentation ceremony held at the Oba’s Complex, beneficiaries expressed relief and gratitude as they received lump sum payments ranging from ₦17 million to ₦22 million in the first phase of the programme.
Represented by the Secretary to the State Government, Tokunbo Talabi, the Governor Said the initiative, known as the Additional Pension Benefit (APB), was deliberately designed to put smiles on the faces of retirees who had endured years of uncertainty under delayed gratuity payments.
“For us, this is beyond policy—it is about people. It is about ensuring that those who have served this state retire with dignity, comfort, and a sense of fulfillment,” he said.
Under the new arrangement, a majority of retirees—estimated at 70 to 80 per cent—will receive higher benefits than previously obtainable, surpassing the federal Government’s 100 per cent gratuity benchmark.
Beyond the immediate financial relief, the reform also secures retirees’ future income. Unlike the old system where a portion of pension savings was withdrawn upfront, the APB provides a separate lump sum while preserving full contributions with Pension Fund Administrators, thereby guaranteeing stronger and more stable monthly pensions.
The Head of Service, Kehinde Onasanya, described the initiative as a transformative step that bridges the gap between past and present pension systems while delivering instant financial comfort to retirees.
“This is a policy that truly touches lives. It ensures our retirees are not left struggling but are supported immediately as they exit service,” he noted.
Also speaking, the Commissioner for Finance, Dapo Okubadejo, explained that the reform was part of broader efforts to correct years of pension challenges that had placed heavy burdens on retirees.
He revealed that the State had inherited massive pension liabilities but has since cleared significant arrears and introduced sustainable measures to rebuild trust in the system.
Labour leaders, including representatives of the Nigeria Labour Congress and the Trade Union Congress, applauded the governor’s efforts, describing the initiative as compassionate, innovative, and capable of setting a new standard nationwide.
Retirees and stakeholders alike noted that beyond the figures, the reform represents a renewed commitment to valuing public service and prioritising the well-being of those who dedicated their productive years to the state.
The APB initiative, introduced after extensive consultations with labour unions and pension administrators, is now being hailed as a sustainable solution to long-standing pension concerns, particularly around gratuity delays.
With billions already committed to clearing pension backlogs and improving remittances, the Ogun State Government says it remains focused on ensuring that every retiree not only receives their due but does so with pride, peace of mind, and a smile.
