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Tinubu Unveils ₦25 Trillion Pension Fund to Strengthen Workers’ Retirement Security
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President Bola Tinubu has unveiled a ₦25 trillion pension asset pool, assuring Nigerian workers of financial security after retirement as part of a broader push to strengthen social protection.
Speaking at the opening of the ISSA 2026 West Africa Seminar in Abuja, the President said his administration’s Renewed Hope Agenda prioritises protecting livelihoods, expanding opportunities, and rebuilding economic confidence since taking office in 2023.
Tinubu noted that institutions central to Nigeria’s social security system have been reinforced to improve outcomes for workers. He highlighted the role of the Nigeria Social Insurance Trust Fund, stating that over 7.5 million employees are now covered under the Employees’ Compensation Scheme, ensuring financial protection in cases of workplace injury or disability.
He also disclosed that more than 10 million workers are actively contributing to the Contributory Pension Scheme, supervised by the National Pension Commission, with total pension assets exceeding ₦25 trillion.
Represented by Atiku Bagudu, Tinubu emphasised that the growing pension fund reflects increasing trust in the system, assuring workers of dignity and stability in retirement.
The President added that employment remains the most reliable form of social security, noting that the National Directorate of Employment has empowered over two million Nigerians through skills training, entrepreneurship, and job creation initiatives.
On healthcare, he said more than 16 million Nigerians have been enrolled under programmes of the National Health Insurance Authority, reducing medical expenses and improving access to care.
Tinubu further highlighted ongoing social intervention programmes under the Federal Ministry of Humanitarian Affairs and Poverty Reduction, including conditional cash transfers and food security initiatives, as well as youth-focused schemes like N-Power.
He also pointed to housing reforms under the National Housing Fund and the Renewed Hope Housing Programme, designed to expand access to affordable homes for low- and middle-income earners.
According to the President, these initiatives are being supported by the National Social Register to ensure targeted delivery to vulnerable groups, with the long-term goal of building a digitally integrated social protection system.
Tinubu stressed that despite West Africa’s youthful population and economic potential, the region remains exposed to unemployment and economic shocks, calling for improved communication strategies to build public trust in social security systems.
In his remarks, Minister of Labour and Employment, Mohammed Maigari Dingyadi, reaffirmed the government’s commitment to workers’ welfare, while NSITF Managing Director, Oluwaseun Falaye, noted that growing population pressures make a stronger and more responsive social protection system essential.
News
BINANI Air Moves to Cut Nigeria’s $218m Annual Aircraft Maintenance Outflow
By Gloria Ikibah
BINANI Global Air Services has engaged a global aviation firm to develop a mega Maintenance, Repair and Overhaul (MRO) facility in Abuja, in a move expected to retain about $218 million in foreign exchange annually in Nigeria.
The project, which is aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, is aimed at boosting local aircraft maintenance capacity and reducing Nigerian airlines’ dependence on foreign maintenance centres.
Chairperson of BINANI Air, Senator Aishatu Dahiru Ahmed, said the facility would address one of the major challenges confronting the country’s aviation industry — the huge cost of sending aircraft abroad for major maintenance checks.
She said most Nigerian airlines currently rely on overseas facilities for C and D checks, leading to significant foreign exchange outflows.
According to her, the proposed MRO facility will not only help keep more aircraft in Nigeria for major maintenance but also strengthen the country’s technical capacity and support the growth of the aviation sector.
She said: “Currently, domestic airlines outsource the vast majority of their heavy maintenance checks, such as C checks and D checks, to foreign facilities in Europe, the Middle East, and other African nations like Egypt and Ethiopia. This project will reduce this dependency while retaining and attracting FX of about 218 million US dollars annually”.
The proposed facility comes amid persistent concerns over the high cost of aircraft maintenance and Nigeria’s reliance on overseas MRO centres.
C and D checks require specialised infrastructure, sophisticated equipment and highly skilled personnel, which have historically been limited in Nigeria. As a result, airlines have had to send their aircraft abroad, paying for the services in foreign currency.
A functional heavy maintenance facility in Nigeria can also boost the country’s technical workforce and create specialised employment opportunities, while supporting the emergence of a wider aviation maintenance ecosystem.
The facility can further position Abuja as a potential MRO hub for Nigerian and other African airlines, subject to its eventual capacity, regulatory approvals and certification.
Senator Ahmed said the investment represents an expansion of its role beyond domestic passenger operations into infrastructure capable of serving the wider aviation industry.
However, the project’s significance will ultimately depend on its execution and the ability to translate years of discussions about local MRO capacity into a fully operational facility.
The proposed Abuja MRO will mark a major shift for Nigeria’s aviation industry if it succeeds in keeping aircraft at home for major maintenance checks and reducing the country’s dependence on foreign facilities.
News
OPay Rubbishes Viral Shutdown Rumour, Warns Against Fake Publication
By Our Correspondent.
Leading fintech company, OPay Digital Services, has dismissed as false and malicious a viral social media publication claiming that the company would embark on a prolonged break from September 1, 2026, urging its customers to withdraw or move their funds.
The fabricated publication, which gained traction across social media platforms on Sunday, purportedly warned OPay customers that the fintech would shut down its operations for an extended period beginning September 1.
However, OPay, in an official response published across its verified social media platforms, described the claim as false, assuring customers that the company remains fully operational.
In a statement titled, “This is FALSE!”, the fintech said: “OPay is not going on break by September. We’re here, and we’re going nowhere! 💚”
The company further urged its customers and members of the public to scrutinise the viral publication for inconsistencies and rely only on its verified communication channels for authentic information.
“True OPay users know how to identify our official communications. Take a closer look at the viral post and you’ll spot the red flags.
“Always verify before you share. Filter the noise! Follow our official pages for authentic OPay updates,” the company stated, ending the message with the hashtag, #OPayIsOkay.
Also reacting to the development, the Vice President, Public and Government Affairs, OPay Digital Services, Dr. Maxwell Loko, described the viral publication as “false, malicious and misleading.”
Loko said OPay was not shutting down and cautioned customers against taking any action based on the fabricated information.
“This post is false, malicious and misleading. OPay is not shutting down, and customers should not be misled into withdrawing their funds based on fabricated information,” he said.
He urged members of the public to disregard the publication and depend exclusively on OPay’s verified platforms for official announcements.
“We urge the public to disregard this post and rely only on OPay’s verified communication channels for official information,” Loko added.
The OPay executive further warned that deliberate attempts to spread false information capable of creating panic or undermining confidence in a financial institution could attract legal consequences.
“The deliberate spread of false information designed to cause panic or undermine confidence in a financial institution is a serious matter and may have legal consequences,” he said.
The development has also raised concerns over the growing use of fabricated digital content to damage the reputation of financial technology companies and potentially trigger unnecessary panic among customers.
While speculation has circulated in some quarters that the publication could be linked to competitive interests seeking to undermine OPay’s growing market position, no evidence has been publicly established to substantiate such claims.
OPay therefore advised its customers to exercise caution and verify financial or operational announcements through its authenticated communication channels before acting on them.
The company’s clarification effectively puts to rest the viral claim that it would cease or suspend operations from September 1, 2026, with OPay reaffirming that its services remain available to customers.
News
70-year-old granpa nabbed for sexual assault of 8-year-old girl in Bauchi
The Bauchi State Police Command has arrested a 70-year-old man, Usman Abubakar, over the alleged defilement of an eight-year-old girl in the Tsakanin Bayara area of Bauchi metropolis.
According to a statement issued by the Command’s Police Public Relations Officer, Superintendent of Police (SP) Nafiu Habib, the suspect was arrested following a complaint lodged at the ‘E’ Division, Yelwa, by the victim’s 48-year-old father on Wednesday, August 26, 2026.
According to the police, the father alleged that the suspect, who resides in the same area, lured his daughter to an uncompleted building on Sunday, August 24, where he allegedly sexually assaulted her.
The Command said its operatives immediately commenced action after receiving the report and arrested the suspect.
The police further stated that the suspect allegedly confessed to the offence during interrogation.
Following the incident, the victim was taken to the Police Clinic for medical examination and necessary care.
The Commissioner of Police, CP Sani-Omolori Aliyu, condemned the alleged offence and assured members of the public that the matter would be thoroughly investigated.
The case has been transferred to the State Criminal Investigation Department (SCID), Bauchi, for discreet investigation and prosecution, according to the Command.
The police reiterated their zero tolerance for sexual violence and child abuse, while urging parents, guardians and members of the public to remain vigilant and report suspicious activities to the nearest police station.
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