Osun govt approves N4 billion bond for retirees under pension scheme 

Governor Ademola Adeleke of Osun State announced the approval of a N4 billion bond for the payment of retirees under the contributory pension scheme in the state.

He made the disclosure during the 2025 Workers Day celebration held at Fakunle High School, Osogbo, on Thursday.

According to the governor, the bond will cater to retirees in both the state civil service and local government areas.

He explained that N2.17 billion will benefit retirees in civil service parastatals, secondary schools, tertiary institutions, and the Uniosun Teaching Hospital, while N2.09 billion would be disbursed to local government and primary school retirees.

“I have just approved, through the Office of the Head of Service, the payment of bond for retirees under the contributory pension scheme worth over N4 billion.  

“Civil service parastatal, secondary schools, tertiary institutions, Uniosun Teaching Hospital retirees will get N2, 175, 280, 322.54 while N2, 098, 466, 528.87 will be given to local governments and primary schools retirees,” he said. 

The governor acknowledged the prevailing economic difficulties across the country, reaffirming his administration’s commitment to prioritizing workers’ welfare.

He emphasized that Osun State has been collaborating with the Federal Government to ease the burden on citizens and reform the national economy.

“As a matter of policy, we have gone out of our way to ensure the success of the federal government’s efforts,” he said, adding that the state was managing resources prudently to ensure that no sector was left behind.

Adeleke also disclosed that his administration had reduced the state’s inherited debt burden by over 40%, citing confirmation from the Debt Management Office.

He reiterated his government’s strategy of stimulating the local economy by engaging local professionals, suppliers, and artisans through its local content policies.

More insights 

• Meanwhile, 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 commended Adeleke for paying salary arrears owed by previous administrations, approving promotions, and implementing a new minimum wage of N75,000.
• Arapasopo, however, appealed for further support, including the provision of housing and vehicle refurbishing loans, as well as recruitment and capacity-building opportunities for civil servants.
• Speaking on the theme of this year’s celebration, “Reclaiming the Civic Space in the Midst of Economic Hardship,” Arapasopo described it as a rallying call for workers to assert their rights and strengthen civic engagement during challenging times.