By Johnbosco Agbakwuru
ABUJA — THE Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN) has commended President Bola Tinubu for authorising the payment of over N39 billion to clear inherited Defined Benefit Scheme (DBS) pension obligations, with the settlement of 35 months of arrears for 9,675 former NITEL/MTEL pensioners constituting the largest single component.
The association called the move a landmark demonstration of the Federal Government’s commitment to restoring the dignity, welfare and financial security of thousands of retirees whose pension entitlements had been unpaid for years.
FEPPPAN also praised the Pension Transitional Arrangement Directorate (PTAD), the National Assembly, the Federal Ministry of Finance, the Budget Office of the Federation, the Office of the Accountant‑General of the Federation, and other relevant government bodies for their roles in facilitating the successful implementation of the presidential approval.
In a statement jointly signed by its President-General, Elder Benjamin Maisamari Amako, and General Secretary, Mr. Franklin Erinle, the association said the intervention reflects the importance President Tinubu’s administration attaches to social protection, responsible governance and the welfare of pensioners under the Renewed Hope Agenda.
According to FEPPPAN, the over N39 billion settlement includes N25.05 billion paid to clear the outstanding 35-month pension liabilities of eligible pensioners of the defunct NITEL/MTEL, N9.48 billion representing the first tranche of the Back End Computation (BEC) arrears for eligible PHCN pensioners and N5.09 billion covering the outstanding balance of the 10.66 per cent and 12.95 per cent pension increment arrears due to eligible pensioners of the defunct Assurance Bank, NICON, NITEL and People’s Bank of Nigeria.
The association said President Tinubu’s approval was “a clear demonstration of the President’s commitment to the welfare of pensioners under the Renewed Hope Agenda and a significant step towards restoring the dignity, confidence and financial security of retirees who devoted the greater part of their productive years to the service of the nation.”
It added that the settlement “represents not only the liquidation of inherited financial liabilities but also the restoration of hope to thousands of retirees and their families who had patiently awaited the fulfilment of government’s obligations.”
FEPPPAN specifically commended PTAD for what it described as its professionalism in implementing the presidential approval through the verification of beneficiaries, computation of entitlements and seamless disbursement of the approved funds. It equally applauded the National Assembly for making the necessary budgetary provisions through the 2026 Appropriation Act and acknowledged the collaborative roles played by the Federal Ministry of Finance, the Budget Office of the Federation, the Office of the Accountant-General of the Federation and other government institutions.
While expressing appreciation for the intervention, the association reminded the Federal Government that pension is “neither a privilege nor an act of charity” but a legitimate right earned through years of dedicated service. It therefore appealed to President Tinubu to sustain the momentum by ensuring the settlement of all outstanding pension obligations, prompt payment of monthly pensions and continued reforms capable of protecting retirees against inflation and the rising cost of living.
FEPPPAN reaffirmed its support for initiatives that promote transparency, accountability and efficiency in pension administration, expressing confidence that the Renewed Hope Agenda would continue to translate into practical benefits for pensioners across the country.
