President Bola Tinubu has approved new measures to improve the welfare of pensioners under the Defined Benefit Scheme (DBS), as part of the ‘Renewed Hope Agenda’.
The Head of Corporate Communications at the Pension Transitional Arrangement Directorate (PTAD), Mr. Olugbenga Ajayi, announced the development on Friday in Abuja, stating that the President authorised an immediate extra budgetary allocation to implement higher pension rates for DBS retirees.
Tinubu also approved the adoption of a proposed pension harmonisation policy in the 2026 pension budget and provision for health insurance coverage for all DBS pensioners.
According to Ajayi, the President further endorsed the inclusion of outstanding liabilities owed to NITEL/MTEL pensioners and other parastatal retirees in the 2026 budget proposal.
PTAD’s Executive Secretary, Ms. Tolulope Odunaiya, hailed the decision as “far-reaching and historic”, noting that it reflects the President’s strong commitment to senior citizens and marks a new phase in DBS pension management.
She said the approvals cover a new pension rate of ₦32,000, increases of 10.66 per cent and 12.95 per cent for pensioners of defunct and privatised agencies, pension harmonisation for all DBS retirees, enrolment in the National Health Insurance Scheme (NHIS), and settlement of unfunded pension liabilities.
Odunaiya also urged for an emergency budgetary allocation to speed up the implementation of these reforms.
