Oyo Clears More Pension Backlog with ₦3bn Payment to Retirees

In a continued effort to clear the backlog of unpaid retirement benefits inherited from previous administrations, the Oyo State Government has commenced the payment of gratuities and death benefits to another batch of over 1,000 retirees, including retired primary school teachers and local government workers.

Speaking at the flag-off ceremony held at the Local Government Staff Training School, Secretariat, Ibadan, the Chairman of the Oyo State Local Government Staff Pension Board, Hon. Akeem Ademola Ige, described the exercise as further evidence of Governor Seyi Makinde’s commitment to the welfare and dignity of senior citizens in the state.

Hon. Ige explained that the payments were made possible through the governor’s approval and release of ₦3 billion to settle gratuities and death benefits for retirees across all geopolitical zones of Oyo State.

He expressed confidence that Governor Makinde’s sustained efforts to clear outstanding pension liabilities would ensure that no retiree is left unpaid by the end of the administration’s tenure, thereby easing the burden on future governments.

Highlighting a major policy milestone, Hon. Ige noted that Governor Makinde’s recent approval of the Contributory Pension Scheme (CPS) represents a significant reform in the state’s pension administration. He explained that the existing Defined Benefits Scheme would continue to operate alongside the CPS during the transition period to protect the interests of both serving employees and current retirees.

Earlier, the Permanent Secretary of the Local Government Staff Pension Board, Mr. Olufemi Akinwale, commended the governor’s compassionate leadership and commitment to retirees’ welfare. He advised beneficiaries to manage their payments responsibly and remain vigilant against fraudsters who might attempt to exploit them.

In his goodwill message, the Majority Leader of the Oyo State House of Assembly, Hon. Sanjo Adedoyin, praised the administration’s worker-friendly policies and called on residents to support the party’s candidates in the forthcoming general elections.

The ceremony featured the symbolic presentation of cheques to selected beneficiaries. Speaking on behalf of the retirees, the beneficiaries expressed appreciation to Governor Makinde for prioritizing their welfare and pledged their continued support for his administration.