In fulfilment of its promise to ensure a peaceful life for workers after retirement, the Ogun State Government has presented Additional Pension Benefit cheques to eligible retirees under the Contributory Pension Scheme
The Governor, Prince Dapo Abiodun represented by the Secretary to the State Government, Mr. Tokunbo Talabi, at the official presentation of the cheques to the retirees, at Obas Complex, Oke-Mosan, reaffirmed that the one- off lump sum was to give the retirees soft landing with the sole aim of beginning a new life.
Governor Abiodun noted that the government would continue to put smiles on the faces of pensioners who had sacrificed and contributed to the development of the State, assuring them that their monthly benefits still remained with the Pension Funds Administrators ( PFA),who were expected to be sorting them monthly
Speaking at the event, the Head of Service, Mr. Kehinde Onasanya, described the Additional Pension Benefits (APB) as a ‘Game Changer’, aimed to bridge the gap and disparities between the Defined Pension Scheme (DBS) and the Contributory Pension Scheme (CPS), saying it would strengthen confidence of retirees and prevent pension crisis.
In his contributions, Chief Economic Adviser and Commissioner for Finance, Mr. Dapo Okubadejo, said annual pension payment increased from about N9 Billion in 2019 to over N20 Billion as at December 2025, saying the new arrangement had provided more favorable outcomes for retirees.
In her welcome address, Permanent Secretary, Bureau of State Pensions, Mrs. Arinola Adetayo, said the presentation of cheques to retirees under the Contributory Pension Scheme CPS was a clear demonstration that the Government was determined to support the senior citizens, noting that the retirees would be receiving between 116 percent and 280 percent of their Total Annual Emolument as Additional Pension Benefits (APB) and this payment would be made directly to their accounts. She revealed that Ogun State was the first to introduce the APB aimed at improving the welfare of the Senior Citizens, that all issues connected to it had been settled.
Also speaking, Labour Leaders including; Ahmed Benco of the Nigeria Labour Congress and his counterpart from the Trade Union Congress, Akeem Lasisi, appreciated the government for being the first to do this in Nigeria, the Chairman, Nigerian Union of Pensioners, Mr. Waheed Oloyede, advocated that the programme must ensure transparency and sustainability, in order not to lose the purpose of its introduction.
On their Part, representative of the Pensions Funds Administrators, Mr. Wale Adeniran and Mrs. Olubukola Orenuga, described the Contributory Pension Scheme as the best in order to ensure sustainability and transparency.
Some of the beneficiaries, Mr. Olaifa Idowu and Mrs. Osikoya Ekundayo, appreciated the Governor for his endless support towards the senior citizens by making life better especially with the current economic situation in the country.
Sururat Odusanya,
Information and Public Relations Officer, Bureau of State Pensions