News

Ogun State allocates additional N5.83 billion to retirees, raising total pension commitment to N157.9 billion

Published on by Sentinel Digest Editorial

Ogun State allocates additional N5.83 billion to retirees, raising total pension commitment to N157.9 billion
Ogun State allocates additional N5.83 billion to retirees, raising total pension commitment to N157.9 billion

The Ogun State Government has released N5.83 billion for gratuity and additional pension benefits, taking its total pension-related spending since May 2019 to N157.9 billion. The funds target local government, SUBEB and Contributory Pension Scheme retirees.

The [Ogun State Government](https://ogunstate.gov.ng) announced on 24 September 2026 that it is disbursing an extra N5.83 billion for gratuity and Additional Pension Benefits, lifting its cumulative pension‑related outlay since 29 May 2019 to N157.9 billion.

**What amount was released and when?**

The Joint Accounts Allocation Committee (JAAC) approved the fresh release at its meeting on 24 September 2026, adding N5.83 billion to the state’s retirement fund pool.

**Who will receive the new payments?**

Head of Service Olanrewaju Saka explained that N4,906,950,967.98 will go to Local Government pensioners who retired in 2022 and to State Universal Basic Education Board (SUBEB) retirees from 2021. An additional N918,596,179.16 is earmarked for eligible retirees under the [Contributory Pension Scheme (CPS)](https://en.wikipedia.org/wiki/Contributory_Pension_Scheme_(Nigeria)).

**What does the total commitment comprise?**

Since 2019, the state has paid N29,116,988,743.64 as gratuity to 7,390 beneficiaries and N105,391,736,016.69 as regular pension payments to 16,420 retirees. Between July 2025 and August 2026, CPS deductions for 29,883 beneficiaries amounted to N7,782,738,878.42.

**What other retirement‑related expenditures were recorded?**

The breakdown includes N3,332,112,713.71 for Accrued Pension Rights (APR) for 2,567 people, N5,041,139,048.90 for arrears of CPS deductions, and N1,347,359,839.24 in Returns on Investment (ROI). Death benefits and other payments covered 160 beneficiaries at a cost of N584,850,736.98, while palliatives totalling N1,321,790,502.25 were also provided.

**What is the broader financial picture?**

Additional Pension Benefits paid to 709 beneficiaries reached roughly N4 billion during the review period. Saka clarified that the N45.5 billion figure cited earlier refers solely to gratuity commitments for Local Government and SUBEB retirees, whereas the N157.9 billion figure captures all pension‑related spending.

**What does the administration say about future commitments?**

[Governor Dapo Abiodun](https://en.wikipedia.org/wiki/Dapo_Abiodun) has reiterated his dedication to clearing outstanding retirement obligations and treating former state employees with dignity. Saka affirmed that the government will continue to honour its promises and allocate resources to settle any remaining pension liabilities.

Topics: #Governor Dapo Abiodun #Nigeria #Ogun State #pension #retirement benefits

Related Stories in News