Big news for pensioners in Oyo State! Governor Seyi Makinde has just approved a major increase in pension payments, bringing smiles to the faces of many. This isn’t just a small adjustment; it’s a significant leap that will dramatically improve the lives of retired workers.
Here’s a quick rundown of what you need to know:
- Major Pension Increase: The least paid pensioners will now receive ₦25,000.
- Massive Upgrade: Previously, some pensioners were receiving as little as ₦1,000.
- Backdated Increase: The adjustment includes the 33% pension increase from 2010, previously not implemented.
- Additional Boost: The increase also takes into account the 2019 pension adjustment, a 20% increase across the board, and a portion of the ₦32,000 pension increase.
- Effective Date: The new rates are effective from the January 2025 payments.
Pensioners Sing Makinde’s Praises
The Nigeria Union of Pensioners (NUP), Oyo State Council, is over the moon about this development. In a statement released on Wednesday in Ibadan, the union’s chairman, Mr. Osuntade Ayoade, and Secretary, Dr. Olusegun Abatan, jointly expressed their gratitude.
According to the NUP, this pension review is a game-changer for their members. Before this, many pensioners struggled with the meager amounts they were receiving. Now, the ₦25,000 minimum payment will provide much-needed relief.
The Road to Increased Pensions
It’s worth noting that this wasn’t just a snap decision. The governor’s actions include:
- Factoring in the 33% increase: This increase was initially supposed to happen back in 2010 but was never implemented. Makinde’s administration is righting past wrongs by honoring this commitment.
- Incorporating past adjustments: The adjustments made in 2019, plus a 20% raise across the board and part of the ₦32,000 increase are all part of the new package.
What This Means for Oyo State
This pension increase is more than just numbers on a paycheck. It represents a significant step towards:
- Improved Living Standards: Pensioners can now afford their basic needs and have a more comfortable retirement.
- Economic Boost: Increased spending power among pensioners will contribute positively to the local economy.
- Trust in Governance: The state government’s commitment to its retired workers builds trust and credibility.
What’s Next?
This move by Governor Seyi Makinde will set a high standard for the treatment of pensioners in Nigeria. It is a great step that will hopefully inspire other states to take note and prioritize the welfare of their own retired workers. The state has also shown a commitment to addressing past issues, such as the 2010 pension adjustment. It is a big win for the pensioners, many of whom have dedicated their lives to serving the public and deserve to enjoy a comfortable retirement.