Governor Ademola Adeleke of Osun State introduced the approval of a N4 billion bond for the cost of retirees below the contributory pension scheme within the state.
He made the disclosure in the course of the 2025 Staff Day celebration held at Fakunle Excessive School, Osogbo, on Thursday.
In accordance with the governor, the bond will cater to retirees in each the state civil service and native authorities areas.
He defined that N2.17 billion will profit retirees in civil service parastatals, secondary colleges, tertiary establishments, and the Uniosun Educating Hospital, whereas N2.09 billion can be disbursed to native authorities and first faculty retirees.
“I’ve simply permitted, by way of the Workplace of the Head of Service, the cost of bond for retirees below the contributory pension scheme value over N4 billion.
“Civil service parastatal, secondary colleges, tertiary establishments, Uniosun Educating Hospital retirees will get N2, 175, 280, 322.54 whereas N2, 098, 466, 528.87 will probably be given to native governments and first colleges retirees,” he stated.
The governor acknowledged the prevailing financial difficulties throughout the nation, reaffirming his administration’s dedication to prioritizing staff’ welfare.
He emphasised that Osun State has been collaborating with the Federal Authorities to ease the burden on residents and reform the nationwide financial system.
“As a matter of coverage, we’ve got gone out of our means to make sure the success of the federal authorities’s efforts,” he stated, including that the state was managing assets prudently to make sure that no sector was left behind.
Adeleke additionally disclosed that his administration had decreased the state’s inherited debt burden by over 40%, citing affirmation from the Debt Administration Workplace.
He reiterated his authorities’s technique of stimulating the native financial system by participating native professionals, suppliers, and artisans by way of its native content material insurance policies.
Extra insights
- In the meantime, the Chairman of the Nigeria Labour Congress (NLC), Osun Chapter, Mr Christopher Arapasopo, praised the governor for his “rancour-free and workers-friendly administration.”
- He recommended Adeleke for paying wage arrears owed by earlier administrations, approving promotions, and implementing a brand new minimal wage of N75,000.
- Arapasopo, nevertheless, appealed for additional assist, together with the supply of housing and automobile refurbishing loans, in addition to recruitment and capacity-building alternatives for civil servants.
- Talking on the theme of this 12 months’s celebration, “Reclaiming the Civic House within the Midst of Financial Hardship,” Arapasopo described it as a rallying name for staff to claim their rights and strengthen civic engagement throughout difficult occasions.
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