Abuja: The Nigeria Employers’ Consultative Association (NECA) has commended President Bola Tinubu for his consistent interest in the welfare of retirees and pensioners across the country. Mr Adewale-Smatt Oyerinde, NECA’s Director-General, gave the commendation in Abuja, emphasizing the President’s recognition of the value of workers who have dedicated their productive years to building the Nigerian economy.
According to News Agency of Nigeria, Oyerinde described the President’s attention to pension-related matters as a signal of his administration’s dedication to social protection and economic dignity in retirement. He highlighted the importance of the timely reconstitution of the Governing Body of the National Pension Commission (PenCom), in full compliance with the Pension Reform Act, as a critical step to sustain this momentum.
Oyerinde warned that the absence of a fully functional Governing Body affects effective oversight, policy direction, and corporate governance within PenCom, which manages funds that are the life savings of millions of Nigerian workers. He stressed that reconstituting PenCom’s Governing Body promptly would safeguard principles of trust, transparency, and sound governance, uphold the law, and boost public confidence in the pension system.
NECA reaffirmed its longstanding commitment to the growth and development of the pension sector, pledging to work with the government and stakeholders to strengthen pension administration in Nigeria. This includes advocating for policies that ensure pension asset safety, expand pension coverage, and improve the welfare of all retirees.
Oyerinde stated that as the umbrella body for organized business in Nigeria, NECA will remain a vocal advocate for a sustainable pension system that works for all. He concluded that a strong pension industry is not just about retirement benefits, but also about economic stability, social cohesion, and intergenerational fairness.
