The Chairman of the Nigeria Union of Pensioners (Contributory Pension Scheme, Lagos State Council), Comrade Michael Omisande, has commended President Bola Ahmed Tinubu for ordering the implementation of a pension increase for retirees.
In a statement issued today in Lagos, Omisande praised the move, stating that the adjustment—once fully implemented by the National Pension Commission (PENCOM)—will significantly alleviate the financial struggles of pensioners.
“Currently, a retired director receives as little as ₦50,000 monthly, which is grossly inadequate given the economic realities,” Omisande said.
“This increase will bring much-needed relief to our members.”
He also expressed optimism that Lagos State Governor Babajide Sanwo-Olu would follow the federal government’s lead by approving a similar raise for state pensioners.
Additionally, Omisande applauded Governor Sanwo-Olu for clearing the backlog of pension liabilities, describing it as a critical step in safeguarding retirees’ welfare.
“We appreciate the governor’s efforts in settling outstanding pensions and hope this commitment to pensioners’ welfare continues,” he added.
The pension leader urged both federal and state authorities to ensure timely implementation of the new pension adjustments to cushion the impact of inflation on retirees.