Bola Tinubu Launches Minimum Pension Guarantee and Healthcare Scheme

President Bola Tinubu launched the Presidential Pension Security Initiatives on November 10, 2026, in Abuja, introducing the Minimum Pension Guarantee Scheme and the PensionCare healthcare initiative. The Minimum Pension Guarantee Scheme, administered by the National Pension Commission, establishes a monthly income floor of N52,500 for 173,209 eligible retirees under the Contributory Pension Scheme. This initiative is supported by over N400 billion in the Pension Protection Fund.

To support vulnerable retirees, the government introduced PensionCare, a program funded by the pension industry with over N7 billion to provide free essential medical services. To resolve outstanding obligations, the Federal Government issued a N758 billion bond to clear pension arrears. Additionally, the administration approved a N32,000 monthly adjustment for federal pensioners earning below the national minimum wage and increased payments for legacy pensioners under the Nigeria Social Insurance Trust Fund from N18,000 to N206,000 monthly.

Represented by Senate President Godswill Akpabio at the State House Banquet Hall, Tinubu stated that these measures end a two-decade failure to implement existing pension laws. He linked these social protections to broader economic reforms, including the removal of petrol subsidies, which he claims redirected funds toward pension liabilities and state infrastructure. Tinubu challenged political opponents to produce their own records of performance regarding retiree welfare.