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President Tinubu Will Commission Roads To Renewed Hope Cities, Estates in Karsana West Today

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The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has received the Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD), Mrs. Tolulope Odunaiya, on a briefing over the successful settlement of more than ₦39.6 billion in longstanding pension liabilities under the Defined Benefit Scheme (DBS).

The briefing highlighted another milestone in the implementation of President Bola Ahmed Tinubu’s Renewed Hope Agenda, following the Federal Government’s clearance of inherited pension obligations that had remained outstanding for years.

Mrs. Odunaiya informed the Minister that the payments comprise ₦25.05 billion representing the outstanding 35-month pension liability owed to 9,675 eligible pensioners of the defunct NITEL/MTEL; ₦9.48 billion representing the initial 50 per cent payment of the Back End Computation (BEC) arrears to 3,959 eligible PHCN pensioners; and ₦5.09 billion representing the balance 50 per cent payment of the 10.66 per cent and 12.95 per cent pension increment arrears due to 11,180 eligible pensioners of the defunct Assurance Bank, NICON, NITEL and People’s Bank of Nigeria.

She explained that the settlement followed Presidential approval granted in August 2025, with the required funding subsequently provided under the 2026 Appropriation Act.

According to her, the exercise has now brought to a close all inherited pension liabilities under the Defined Benefit Scheme, providing long-awaited relief to thousands of pensioners.

Commending PTAD for the successful execution of the exercise, the Honourable Minister said the settlement demonstrates the Federal Government’s resolve to address longstanding obligations through prudent fiscal management and responsible governance.

“For many pensioners, this is more than the settlement of outstanding arrears; it is the restoration of confidence and dignity. The Ministry of Finance will continue to support measures that strengthen public financial management while ensuring that government obligations are met in a sustainable and timely manner,” Mr. Oyedele said.

The development marks another milestone in the implementation of the Renewed Hope Agenda, reflecting the Federal Government’s focus on meeting longstanding obligations, strengthening public confidence and improving the welfare of pensioners.

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The Federal Government says 271 Nigerians will return from South Africa today, Friday, July 3, due to recent xenophobic protests.

According to the Ministry of Foreign Affairs, the evacuees will arrive at the Murtala Muhammed International Airport, Lagos, at about 5:30 a.m.

Its spokesperson, Kimiebi Imomotimi Ebienfa, said the exercise shows the government’s commitment to protecting Nigerians abroad and ensuring their safe return during crises.

The first batch of 258 returnees arrived in Lagos on June 11 aboard a special Air Peace flight. They were received by the Minister of State for Foreign Affairs, Sola Enikanolaiye, and handed over to government agencies for documentation and profiling.

The Ministry explained that logistic challenges delayed the second evacuation flight, prompting the Nigerian High Commission in Pretoria to temporarily accommodate and care for affected citizens awaiting their return.

It added that a Nigerian philanthropist voluntarily sponsored the air tickets of 66 stranded nationals, who returned to Lagos aboard a South African Airways flight on June 24.

According to the statement, a second government-arranged evacuation flight landed in Lagos on June 30 with 269 returnees, bringing the total number of Nigerians evacuated from South Africa so far to 593.

The Ministry further announced that three additional evacuation flights have been scheduled to bring home all Nigerians who voluntarily registered for evacuation and have completed the required screening and clearance process.

It also dismissed allegations that officials of the Nigerian Mission in South Africa demanded money from citizens before including them on the evacuation list.

It emphasised that all special evacuation flights are fully funded by the Federal Government and that no returnee is required to pay any fee.

According to the statement, claims that mission staff requested payment for evacuation are false and should be disregarded.

It commended the cooperation of relevant Ministries, Departments and Agencies (MDAs) involved in the operation, noting that their collaboration has contributed significantly to the success of the evacuation exercise.

It reaffirmed that the protection of Nigerians abroad remains a central pillar of Nigeria’s foreign policy, adding that the government will continue to provide support, dignity and care to citizens affected by crises overseas.