The Nigerian Pension Commission (NPC) has begun rebranding its existing micro-pension plan for informal sector workers as the Personal Pension Plan (PPP), aimed at covering millions of Nigerians outside the formal workforce.

Speaking at the Second Run 2025 Consultative Forum for States and the FCT in Benin City, NPC Director-General, Ms. Omolola Oloworaran, highlighted that while 12 states have yet to implement the Contributory Pension Scheme (CPS), seven others are at different stages of establishing pension bureaus.

Oloworaran commended President Bola Tinubu for approving a ₦758 billion bond through the Federal Executive Council to settle legacy pension liabilities, including accrued rights, pension increases, and the minimum pension guarantee. Represented by the Commission’s Commissioner of Inspectorate, Samuel Uwandu, she noted that pension assets now top ₦26 trillion, reflecting the system’s growth and stability.

“The success of Nigeria’s pension reforms depends on full implementation by all states, local governments, and the informal sector. This forum is the engine driving that collaboration,” Oloworaran said, highlighting initiatives like the timely payment of accrued pension rights, the planned reintroduction of gratuity payments for federal civil servants under CPS, and the new Pension Contribution Remittance System (PCRS) to reduce errors and delays.

Governor Monday Okpebholo, represented by his Secretary to the State Government, Musa Ikhilor, pledged full compliance with the NPC’s recommendations and confirmed that the state had released ₦3 billion of the ₦5 billion owed to staff of the state-owned College of Education who were disengaged after the school’s handover to the federal government.

The Personal Pension Plan marks a strategic step in strengthening governance, expanding pension coverage, and ensuring that Nigeria’s pension system delivers value for all citizens.