President Muhammadu Buhari’s Achievement with Regards to pension after Five years

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President Muhammadu Buhari's Achievement

President Muhammadu Buhari’s Achievement with Regards to pension after Five years: Below are some of the achievements recorded by the President Muhammadu Buhari Lead Administration in terms of Pension after five years in office

  • In January 2019, President Muhammadu Buhari launched Nigeria’s Micro Pension Scheme– which allows self-employed persons & persons working in organizations with less than 3 employees to save for d provision of pension at retirement or incapacitation
  • President Muhammadu Buhari Admin is prioritizing payment of pension arrears owed staff of current & defunct Federal agencies: N54 billion released to settle outstanding 33% pension arrears (the 33% pension arrears date back to 2010 when the minimum wage was increased to N18,000).
  • Delta Steel Company (liquidated in 2005): 3,542 pensioners have now been placed on the payroll, ending a 13-year wait for their entitlements. 3b. NITEL: 9,216 pensioners payrolled, after more than a decade of neglect.
  • Retired Biafran Police Officers (dismissed by the Fed Govt in 1971, after the Civil War ended, and pardoned by President Olusegun Obasanjo in 2000): approved payment of their pensions, from 2000. N571.56 million was paid to a total of 174 beneficiaries in October 2017
  • Nigeria Airways: President Muhammadu Buhari approved the release of N24 billion in September 2018, for the settlement of 50% of workers disengaged when the airline was liquidated in 2003/4.
  • Recoveries: The Pension Transitional Arrangement Directorate (PTAD) has recovered cash and non-cash assets totaling N16 billion previously trapped in various insurance companies and

 

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