Nigeria's President Tinubu Launches Minimum Pension Guarantee and PenCare Free Healthcare for Retirees
Nigerian President Bola Tinubu announced at the Presidential Villa in Abuja on November 10 the commencement of the Minimum Pension Guarantee under the Contributory Pension Scheme, ending what he described as a 22-year delay in implementing the provision of the Pension Reform Act. Tinubu said the guarantee takes effect immediately and will be administered by the National Pension Commission (PenCom) in accordance with the Act, ensuring contributors do not fall below a guaranteed minimum income in retirement.
Tinubu also launched PenCare, a pension industry-funded healthcare initiative designed to provide low-income retirees with free access to essential medical services. He disclosed that the federal government had issued a N758 billion bond to clear long-standing pension arrears.
Tinubu was represented at the launch ceremony at the Old Banquet Hall of the Presidential Villa by Senate President Godswill Akpabio. Citing an October 2026 World Bank report, Tinubu said state revenues increased by approximately 93 percent in real terms between 2023 and 2025, while the share of state budgets devoted to capital projects rose from 46 percent to 61 percent.
(Source: Nigeria State House)
Source: Nigeria State House
Published by GSM · USA (original Chinese edition)
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