Ogun State Governor, Prince Dapo Abiodun, has inaugurated a 25-member State and Local Government Pension Funds Management Committee to oversee the full implementation of the Contributory Pension Scheme (CPS) across the state.
The inauguration follows the suspension of a week-long strike by organized labour unions, including the Nigeria Labour Congress (NLC), Trade Union Congress (TUC), and Joint Negotiating Council (JNC), who have been advocating for improved welfare and pension reforms.
During the inauguration, Governor Abiodun commended the labour unions for choosing dialogue over conflict. He described their decision to suspend the strike as a reflection of patriotism and commitment to peaceful resolution.
> “As your governor, elected by the people and for the people, I see this goodwill as a call to deepen trust and improve governance,” he said.
The governor emphasized that since 2019, his administration has consistently prioritized the welfare of workers and pensioners under the “Building Our Future Together” agenda.
He also highlighted key aspects of the recently signed Memorandum of Action (MoA), which includes:
Payment of outstanding global deductions starting in 2025.
Phased settlement of pension deductions.
Quarterly review meetings with labour leaders.
Abiodun explained that the older Defined Benefits Scheme is no longer sustainable and that the new Contributory Pension Scheme would guarantee timely and secure retirement benefits for workers.
The newly inaugurated committee is tasked with:
Offering professional advice on the CPS.
Monitoring PFAs and pension custodians.
Ensuring timely remittance of contributions.
Recommending sub-committees and reviewing compliance with national pension regulations.
Governor Abiodun urged the committee to handle their duties with transparency, diligence, and accountability, as their work would directly affect the well-being of Ogun workers and retirees.
In his remarks, the newly appointed committee chairman, Olufisan Osiyale, assured the public that the committee would not betray the trust placed in them.
Governor Abiodun concluded by reaffirming his commitment to fairness and transparency in worker-related policies and thanked all stakeholders for their understanding and cooperation.
