The Ogun State Governor, Dapo Abiodun, has approved the immediate increase of the quarterly payment of gratuity from N1bm to N2bn, representing 100 per cent rise for both the state and local government pensions.
The Permanent Secretary, Bureau of State Pensions, Mr. Adesoji Adewuyi, disclosed this in a statement on Monday.
Adewuyi said the gesture was another government’s effort at alleviating hardship faced by the senior citizens in the face of present socio-economic challenges in the country.
He reiterated the present administration’s commitment to improve the plight of pensioners and the generality of its workforce.
“The government has also set aside 3% of the gratuity for pensioners with urgent medical needs or hospital bills.
“The present administration will continue to accommodate the senior citizens in the scheme of things, to ensure a restful retirement period for them,” Adewuyi explained.
Similarly, Adewuyi disclosed that the state government has constituted a Consequential Adjustment Committee, with a directive to review the pensioners’ monthly income in line with the present economic reality.
According to the Permanent Secretary, under the new arrangement, monthly pensions, which statutorily should be reviewed every five years, would now be N10,000 for those earning below the benchmark.
“In 2023, the governor approved the payment and it is being paid pending the conclusion for the general review of monthly pension by the Consequential Adjustment Committee,” he said.
In his reaction, Chairman, Nigerian Union of Pensioners, Comrade Waheed Oloyede, expressed gratitude to Abiodun for increasing the quarterly gratuity release from N1billion to N2billion.
Oloyede noted that the increment would assist pensioners to cope with the economic challenges facing the country.
