Amanze ChinonyePresident Tinubu has directed the immediate implementation of free healthcare services for low-income retirees under Nigeria’s Contributory Pension Scheme (CPS), describing the initiative as essential to safeguarding dignity in retirement and strengthening social protection.
The President issued the directive on Wednesday after receiving a briefing from the Director General of the National Pension Commission (PenCom), Ms. Omolola Oloworaran, at the State House in Abuja.
Join our WhatsApp ChannelIn addition to the healthcare rollout, President Tinubu called for the swift implementation of long-overdue pension increases and the establishment of a minimum pension guarantee for the most vulnerable retirees under the CPS framework.
“Retirees who have served this country deserve to live their post-work years with dignity and peace of mind,” the President said, emphasizing the need for urgent action.
He also ordered the immediate resolution of long-standing issues surrounding police pensions, stressing that officers who serve and protect the nation must not be neglected in retirement.
The PenCom Director General briefed the President on current efforts to safeguard the value of pension fund assets amid rising inflation and broader macroeconomic challenges. She also outlined new plans to introduce foreign currency contributions, allowing Nigerians in the diaspora to participate in the national pension scheme.
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President Tinubu endorsed the proposed reforms, reaffirming his administration’s commitment to inclusive economic growth and protection for vulnerable groups.
“We must build a system that leaves no one behind especially not those who gave their best years to the service of this country,” he stated.
The set of initiatives presented by PenCom, aims to expand the reach of the pension scheme, improve retiree welfare, and ensure long-term financial security for Nigerian workers.
If fully implemented, the measures could directly improve the lives of millions of retired Nigerians, many of whom struggle with rising medical costs and shrinking pension value due to inflation. The free healthcare initiative is expected to ease the burden on low-income retirees, while the inclusion of diaspora contributions could strengthen the sustainability of the pension system. The reforms may also help rebuild public trust in a system that has long been criticized for delays and inadequacies.
The President’s directives mark a significant shift in Nigeria’s pension policy landscape, with an emphasis on fairness, inclusion, and economic resilience in the face of mounting cost-of-living pressures.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
