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FG Promises Pensioners Relief: N758 Billion Allocated to Clear Arrears

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The Minister of State for Finance, Dr Doris Uzoka-Anite, has reaffirmed President Bola Tinubu’s commitment to pension reforms, highlighting his understanding of the challenges faced by pensioners.

The Minister made the remarks during the launch of the revised Service Charter for the Pension Transitional Arrangement Directorate in Abuja on Wednesday.

This assurance follows persistent protests by pensioners in Abuja and Lagos over unpaid arrears and N35,000 palliative allowances.

In her address, Uzoka-Anite reflected on the significant improvements brought by pension reforms, which, she said, gave workers across Nigeria renewed hope.

She noted that the reform provided workers in both the public and private sectors with “lifetime insurance,” ensuring that they would have financial security after retirement.

She added that the pension scheme had become a vital part of workers’ financial plans, particularly as it offered a reliable alternative when facing economic challenges.

The Minister also addressed the government’s ongoing efforts to secure and grow pension funds.

“We’ve been working with PENCOM to ensure that pension funds are not only invested securely but also leveraged to drive economic development,” Uzoka-Anite said, underscoring the importance of pension assets in national growth.

She expressed gratitude towards Tinubu for his leadership in addressing pension liabilities, with a focus on clearing outstanding pension payments.

Uzoka-Anite revealed that the government has plans to issue N758bn bond to clear these liabilities, a step she described as crucial in securing the future of pensioners.

The Minister reiterated that the issue of pensioners not receiving their dues promptly must come to an end.

“It breaks our hearts every time we see pensioners come to demand their pensions. It shouldn’t be like that. If you worked and gave your best years to your country, the least we can do is give you your best years when you retire,” she said.

Uzoka-Anite also praised the work of PTAD and its leadership, emphasising that pensioners now had a system in place that they could rely on.

“We want pensioners to know that it is now a thing of the past that they have to cry before they see their money,” she assured.

The minister reaffirmed that the government, under President Tinubu’s leadership, is fully committed to pension reform.

“The President understands the pain of being a pensioner. He was a pensioner first before we gave him a mandate to come back. He’s a man who has empathy for the suffering of the people,” she stated.

Also speaking at the event, the Director General of the National Pension Commission, Ms Omolola Oloworaran, expressed deep commitment to ensuring the welfare of pensioners.

“There is no greater honour than making an impact in the life of those who have given their all to this nation,” she stated, underscoring the importance of helping pensioners retire with dignity.

She highlighted the significance of the service charter as a renewed promise to pensioners, emphasising that their welfare is central to PenCom’s mission.

“It is more than a document; it’s a renewed commitment to our senior citizens,” she said.

Oloworaran also noted recent achievements, including the approval of long-outstanding arrears and the introduction of healthcare for pensioners.

She stressed that these initiatives are “life-changing” and will positively impact the lives of many households.

She reaffirmed PenCom’s commitment to ensuring pensioners’ dignity, transparency, and respect in retirement.

In her welcome remarks, the Executive Secretary of the Pension Transitional Arrangement Directorate, Tolulope Odunaiya, reaffirmed the organisation’s commitment to enhancing service delivery for pensioners.

“I am truly honoured to stand before you today at the official launch of our second edition of the Service Charter,” she began, noting that the event symbolised PTAD’s collective commitment to “entrenching excellence and beneficial impact in service delivery.

”The Executive Secretary stressed that the revised Service Charter is “more than a document,” calling it a “covenant” between PTAD, pensioners, and stakeholders.

The revised charter, she explained, includes realistic performance metrics, a renewed commitment to quality, and clearer accessibility for all pensioners.

“Our goal is to ensure you clearly understand your entitlements and the standards you can expect from us,” she added.

The National President of the Nigeria Union of Pensioners, Godwin Abumisi, expressed both gratitude and frustration at the state of pension administration in Nigeria during the launch of the revised Service Charter.

“I recognise the struggles we faced in collecting our pensions. Many of us died while trying to rectify issues with our pensions,” Abumisi said, reflecting on the past challenges pensioners faced during verification exercises.

He acknowledged the positive strides made by PTAD, stating, “We have left Egypt, but we are not yet at the promised land.”

While commending PTAD for its work, Abumisi highlighted that many pensioners, particularly in remote areas, still face difficulties with verification.

“Many of them do not have phones, and cannot complete this exercise without assistance,” he said, urging authorities to reach out to those left behind.

Abumisi concluded by thanking President Tinubu for his empathy towards pensioners, vowing that come 2027, pensioners would rally behind him.

“I wish to thank the president of Nigeria for his empathy for the pensioners of Nigeria.

We are seeing all that is needed to ensure that pensioners of Nigeria raise their heads above the water, and I want to make a promise that come 2027, we will direct all pensioners to vote for him,” he said.

International

JUST IN: Trump Sacks US Ambassador To Nigeria, Others

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The Trump administration has recalled the United States Ambassador to Nigeria, Richard M. Mills Jr., as part of a broader shake-up involving nearly 30 career diplomats serving in ambassadorial and senior embassy posts around the world.

Mills, who assumed his post in Nigeria in July 2024 during the Biden administration, is among the affected envoys who received notices last week that their tenures will end in January 2026. The move aligns with efforts to ensure U.S. diplomatic representatives fully support President Donald Trump’s “America First” foreign policy priorities.

Africa has been the most impacted region, with ambassadors recalled from 13 countries: Burundi, Cameroon, Cape Verde, Gabon, Côte d’Ivoire, Madagascar, Mauritius, Niger, Nigeria, Rwanda, Senegal, Somalia, and Uganda. Other affected regions include Asia (six countries, including the Philippines and Vietnam), Europe (four countries), the Middle East (two countries), and additional posts in South Asia and the Western Hemisphere.

Many of these diplomats were appointed under the previous Biden administration and had initially survived an earlier wave of changes that primarily targeted political appointees. Ambassadors serve at the pleasure of the president and typically hold posts for three to four years, though the administration described the recalls as a “standard process” for any new presidency.

A State Department spokesperson defended the decision, stating: “An ambassador is a personal representative of the president, and it is the president’s right to ensure that he has individuals in these countries who advance the America First agenda.”

The recalls, first reported by Politico, have raised concerns among some lawmakers and the American Foreign Service Association, the union representing U.S. diplomats. The affected career diplomats will return to Washington for potential reassignment but will no longer serve as chiefs of mission in their current postings.

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Tinubu Hails DSS DG Ajayi for Championing Press Freedom in IPI Award Recognition

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President Bola Tinubu has congratulated Mr. Adeola Oluwatosin Ajayi, Director-General of the Department of State Services (DSS), on receiving a commendation award from the Nigerian National Committee of the International Press Institute (IPI) for his outstanding commitment to press freedom.

The prestigious recognition was bestowed on Ajayi during the IPI’s Annual Conference held on December 2, 2025, in Abuja. The organisation praised Ajayi, who assumed office in late August 2024, for demonstrating “an unmistakable commitment to press freedom and respect for journalists and media organisations.

“In a statement, the IPI noted that the award aims not only to acknowledge Ajayi’s commendable record but also to encourage him to build on these efforts and inspire other public officials and institutions to follow suit.

President Tinubu welcomed the honour, commending the DSS chief for promoting press freedom, safeguarding citizens’ rights, and operating strictly within legal boundaries.

He highlighted that under Ajayi’s leadership, the DSS is shifting away from past perceptions of hostility toward the media, instead fostering dialogue and constructive engagement with journalists and the broader public.

The President urged other security agencies and government officials to adopt a similar collaborative approach, treating the media as partners in nation-building rather than adversaries.

He further encouraged the DSS to sustain its positive trajectory, ensuring an enabling environment for journalists to fulfil their constitutional role of holding public officials accountable.

The statement was issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy.

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Business

Heirs Energies Secures $750 Million Financing from Afreximbank for Expansion

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Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has secured a $750 million financing facility from the African Export-Import Bank (Afreximbank).

The deal was finalized during a signing ceremony in Abuja on December 20, 2025, attended by Tony O. Elumelu, CFR, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank.

This transaction marks one of the largest financings ever obtained by an indigenous African energy firm, underscoring strong confidence in Heirs Energies’ operational track record, governance, brownfield expertise, and future growth potential.

Since taking over operatorship of Oil Mining Lease (OML) 17, Heirs Energies has implemented a rigorous turnaround strategy, emphasizing production recovery, asset integrity, and efficiency gains.

Through targeted interventions and infrastructure upgrades, the company has shifted from acquisition-focused funding to a sustainable capital structure suited to long-term reserve development.

Production has doubled since acquisition, rising from 25,000 barrels of oil per day (bopd) and 50 million standard cubic feet of gas per day (mmscf/d) to more than 50,000 bopd and 120 mmscf/d currently. All gas output is supplied to Nigeria’s domestic market, playing a key role in supporting national power generation.

The company has also overhauled community engagement and upheld top-tier health and safety standards.

The new Afreximbank facility will fund accelerated field development, production optimization, and strategic growth initiatives, all while adhering to strict capital discipline.Tony O. Elumelu, CFR, Chairman of Heirs Energies, commented: “This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital.

It reflects the successful journey Heirs Energies has taken—from turnaround to growth—and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.

”Dr. George Elombi, President and Chairman of Afreximbank, added: “Afreximbank is proud to support Heirs Energies at this pivotal stage of its growth.

This financing reflects our confidence in the company’s leadership, governance, and asset base, and aligns with our mandate to support African champions driving sustainable economic transformation across the continent.

”The deal highlights Afreximbank’s commitment to empowering indigenous operators capable of advancing energy security, sustainable development, and economic value throughout Africa.

With this funding in place, Heirs Energies is well-positioned for its next growth phase, prioritizing operational excellence, responsible resource management, and lasting stakeholder value.

Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, dedicated to addressing the continent’s energy demands while advancing global sustainability objectives. It emphasizes innovation, environmental stewardship, and community development in the evolving energy sector.

The African Export-Import Bank (Afreximbank) is a Pan-African multilateral institution focused on financing and promoting intra- and extra-African trade, supporting industrialization, trade growth, and economic transformation.

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