The Director-General of the National Pension Commission, Ms Omolola Oloworaran, has said that pension assets in Nigeria have grown to N31.48 trillion, representing a N10.7 trillion increase in the last 24 months.
Disclosing this to State House correspondents on Tuesday, Oloworaran described the period as “twenty-four months of evidence” under her leadership.
She thanked President Bola Tinubu for approving a historic N758 billion intervention that cleared over 20 years of pension liabilities and raised monthly pensions for retirees under the Contributory Pension Scheme.
She said the commission also recorded over 938,229 new pension contributors during the period. In addition, aggregate monthly pension payouts rose by 22% from N12.2 billion to N14.9 billion.
Oloworaran added that a N32,000 monthly consequential adjustment was added to the pension of every eligible retiree of treasury-funded MDAs who retired on or before July 29, 2024. The adjustment covers over 100,000 pensioners.
She also announced that NSITF pensioners who waited for 20 years for a review based on the N18,000 minimum wage of 2000 now receive N206,000 monthly.
This, she said, represents an increase of more than 1000% with all arrears paid in full.