President Bola Tinubu’s sustained focus on improving the welfare of retirees and pensioners has earned praise from the Nigeria Employers’ Consultative Association (NECA). The group said his approach reflects a deep respect for the contributions of Nigerian workers and a drive to ensure dignity in retirement.
In a statement issued on Sunday in Abuja, NECA Director-General, Adewale-Smatt Oyerinde, described the President’s consistent attention to pension issues as a clear demonstration of his administration’s dedication to social protection and the long-term stability of the pension system.
He urged the Federal Government to sustain this momentum by urgently reconstituting the Governing Board of the National Pension Commission (PenCom) in line with the Pension Reform Act. Oyerinde warned that leaving the board vacant undermines oversight, policy direction, and corporate governance in a body that safeguards the life savings of millions of Nigerian workers.
“The pension industry thrives on trust, transparency, and sound governance,” he noted, adding that restoring the board would protect these principles, uphold the law, and strengthen public confidence in the system.
Oyerinde reaffirmed NECA’s commitment to supporting pension sector growth and pledged continued collaboration with government and stakeholders to improve pension administration in the country.
In a related development, industry experts have called for deeper pension reforms, more innovative investment strategies for pension funds, and broader inclusion of the informal sector to expand coverage. They also stressed the need for stricter enforcement of employer compliance to secure the financial future of retirees and maintain trust in the pension system.