Osogbo: Gov. Ademola Adeleke of Osun has announced the approval of a N4 billion bond dedicated to settling pension arrears for retirees under the contributory pension scheme within the state. Adeleke revealed this development during his speech at the Workers' Day celebration held at Fakunle High School, Osogbo.
According to News Agency of Nigeria, the bond allocation is meant for retirees at both state and local government levels. The governor specified that N2,175,280,322.54 will be distributed among civil service parastatals, secondary schools, tertiary institutions, and Uniosun Teaching Hospital retirees. Meanwhile, local government and primary school retirees will receive N2,098,466,528.87.
Adeleke acknowledged the challenging economic conditions and emphasized his commitment to the welfare of workers and residents. He highlighted the state's collaborative efforts with the Federal Government to mitigate economic hardships and stressed the state's initiative to manage resources effectively without incurring new debts. The governor noted a significant reduction of over 40 percent in the inherited state debt, as confirmed by the Debt Management Office.
Further, Adeleke mentioned that his administration is focused on rebuilding the state economy to benefit its people. Through local content policies, the government ensures that professionals, suppliers, and artisans within Osun are actively engaged, thereby circulating Osun's financial resources within the state.
Mr. Christopher Arapasopo, Chairman of the Nigeria Labour Congress (NLC), Osun Chapter, expressed gratitude for the governor's worker-friendly policies. He praised Adeleke for addressing salary arrears, approving and paying promotion arrears, and implementing a new minimum wage of N75,000. Arapasopo also urged the government to provide housing and vehicle refurbishing loans, enhance training and recruitment in the civil service, and address workers' needs.
He mentioned that the theme for the 2025 Workers Day, 'Reclaiming the Civic Space in the Midst of Economic Hardship,' serves as a call to action, emphasizing the necessity for workers to reclaim their rights and civic engagement during challenging times.