The Ogun State Government says it has so far committed ₦157.9 billion to pension-related payments since May 29, 2019.
The government disclosed this following the release of an additional ₦5.83 billion for payment of gratuity and Additional Pension Benefits to retirees.
The latest release, approved at the September 24, 2026 meeting of the Joint Accounts Allocation Committee (JAAC), is part of the administration’s efforts to clear outstanding retirement obligations and improve the welfare of senior citizens who served the state.
The Head of Service, Mr Olanrewaju Saka, said ₦4,906,950,967.98 of the funds would be used to pay gratuity to Local Government pensioners who retired in 2022 and State Universal Basic Education Board (SUBEB) retirees who retired in 2021.
The remaining ₦918,596,179.16, he said, was earmarked for Additional Pension Benefits to eligible retirees under the Contributory Pension Scheme (CPS).
Saka said the latest intervention reflected Governor Dapo Abiodun’s commitment to progressively addressing outstanding retirement obligations and ensuring that retirees who served the state meritoriously were treated with dignity.
He added that the administration had released ₦4.12 billion in Additional Pension Benefits to CPS retirees since the beginning of 2026.
Providing a breakdown of the ₦157.9 billion cumulative commitment, Saka said ₦29,116,988,743.64 had been paid as gratuity to 7,390 beneficiaries, while ₦105,391,736,016.69 had been spent on pension payments to 16,420 beneficiaries.
The state also committed ₦7,782,738,878.42 to CPS deductions for 29,883 beneficiaries between July 2025 and August 2026.
Other components of the expenditure included ₦3,332,112,713.71 for Accrued Pension Rights (APR) to 2,567 beneficiaries; ₦5,041,139,048.90 for arrears of CPS deductions; and ₦1,347,359,839.24 in Returns on Investment (ROI).
Saka further disclosed that ₦584,850,736.98 was spent on death benefits and other payments for 160 beneficiaries, while ₦1,321,790,502.25 was provided as palliatives.
Additional Pension Benefits paid to 709 beneficiaries amounted to approximately ₦4 billion during the period under review.
He clarified that the ₦45.5 billion figure represented the broader amount committed to gratuity payments for Local Government and SUBEB retirees since 2019, while the ₦157.9 billion represented the total commitment across all pension-related categories during the period.
The Head of Service said the sustained investment in pensions, gratuity and other retirement benefits reaffirmed the government’s resolve to prioritise the welfare of senior citizens who devoted their productive years to the development of Ogun State.
He assured retirees that the government would continue to honour its obligations and deploy available resources to address outstanding retirement benefits.
(vitalnewsngr.com)
