Tinubu Approves Landmark Welfare Package for DBS Pensioners Under Renewed Hope Agenda

President Bola Ahmed Tinubu has approved a comprehensive welfare package aimed at improving the living conditions of retirees under the Defined Benefit Scheme (DBS), the Pension Transitional Arrangement Directorate (PTAD) announced on Friday. The measures, which form part of the administration’s Renewed Hope Agenda, include immediate pension increases, policy reforms for harmonisation, health insurance enrolment, and the settlement of long-standing liabilities. Under the new arrangement, DBS pensioners will receive a baseline pension rate of ₦32,000, while retirees from defunct agencies will get a 10.66 per cent increase and those from privatised agencies a 12.95 per cent increase. PTAD said the adjustment will provide urgent financial relief to some of the most vulnerable senior citizens. President Tinubu also approved the introduction of a pension harmonisation policy to be factored into the 2026 budget, aimed at eliminating disparities in pension rates across various categories of DBS retirees. In addition, all DBS pensioners will be enrolled in the National Health Insurance Scheme (NHIS) from 2026 to enhance access to affordable healthcare. The President further directed that all outstanding pension liabilities, including arrears owed to NITEL/MTEL retirees and other treasury-funded parastatals, be included in the 2026 budget for settlement. PTAD Executive Secretary Tolulope Odunaiya described the measures as historic and a clear demonstration of the administration’s commitment to the welfare of pensioners. Implementation of the ₦32,000 baseline and the percentage-based pension increases will begin immediately through extra-budgetary allocations, while harmonisation, NHIS enrolment, and the clearance of outstanding liabilities will be rolled out under the 2026 fiscal plan. Pensioners’ associations have welcomed the move, though they urge prompt execution to ensure that all eligible retirees benefit without delay.