The Pension Transitional Arrangement Directorate (PTAD), on Tuesday, welcomed the House of Representatives Committee on Pensions for an official oversight visit to its headquarters in Abuja.
The visit, according to a statement signed by Head, Corporate Communications, Olugbenga Ajayi, MNIPR, led by Committee Chairman Honourable Jallo Hussaini Mohammed, provided an opportunity for the Committee to assess PTAD’s operations and review its budget performance for 2024 as well as the first half of 2025.
In her welcome address, the Executive Secretary of PTAD, Tolulope Odunaiya, expressed gratitude to the Committee for its ongoing support and collaboration with the Directorate.
While presenting an overview of the Directorate’s budget performance, she highlighted key achievements, including the successful implementation of the 20/28% pension increment effective January 2024, which was incorporated into the September 2024 pension payroll, along with the full settlement of accrued arrears.
Odunaiya also mentioned the continuous payment of arrears related to the N32,000, 10.66%, and 12.95% pension increments, made possible by savings from the balance of funds in the pension sub-head after monthly pension disbursements. Additionally, she revealed that the Directorate had secured Presidential approval for the inclusion of critical pension-related items in the proposed 2026 budget.
These items include funding for the full implementation of the N32,000 pension increment, the settlement of unfunded pension liabilities, the harmonisation policy, and health insurance coverage for Defined Benefit Scheme (DBS) pensioners.
Reaffirming PTAD’s commitment to DBS pensioners, Odunaiya acknowledged the essential partnership and oversight role of the National Assembly in strengthening pension administration in Nigeria. She also addressed key challenges facing the Directorate and sought the Committee’s support in these areas.
Honourable Jallo Hussaini Mohammed responded by commending PTAD for its notable strides in enhancing pension payments and improving service delivery. He assured that the Committee would continue to work closely with PTAD to ensure the welfare of DBS pensioners remains a national priority.
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