The Ogun State Government has released N5.83 billion to settle gratuity and additional pension benefits for retirees, bringing its total pension-related expenditure since May 2019 to N157.9 billion.
Olanrewaju Saka, the state’s head of service, announced the disbursement in a statement on the latest allocation approved at the September 24, 2026, meeting of the Joint Accounts Allocation Committee (JAAC).
According to Saka, N4.9 billion of the latest release will be used to pay gratuity to local government pensioners who retired in 2022 and State Universal Basic Education Board (SUBEB) retirees who retired in 2021.
He added that the remaining N918.6 million had been allocated for additional pension benefits for eligible retirees under the Contributory Pension Scheme (CPS).
Saka said the latest disbursement was part of the government’s efforts to clear outstanding retirement obligations and improve the welfare of pensioners.
He added that the government had released N4.12 billion in additional pension benefits to CPS retirees since the beginning of 2026.
‘HOW OGUN SPENT N157.9 BILLION ON PENSION-RELATED PAYMENTS’
Saka said N29.12 billion had been paid as gratuity to 7,390 beneficiaries, while N105.39 billion had been spent on pension payments to 16,420 beneficiaries since May 29, 2019.
He said N7.78 billion was committed to CPS deductions for 29,883 beneficiaries between July 2025 and August 2026.
The head of service said the government also spent N3.33 billion on accrued pension rights (APR) for 2,567 beneficiaries and N5.04 billion on arrears of CPS deductions.
Saka added that N1.35 billion was paid as returns on investment (ROI), while N584.85 million was spent on death benefits and other payments for 160 beneficiaries.
He also disclosed that N1.32 billion was provided as palliatives, while about N4 billion was paid as additional pension benefits to 709 beneficiaries.
Saka clarified that the N45.5 billion figure previously cited by the government represented the broader amount committed to gratuity payments for local government and SUBEB retirees since 2019.
He explained that the N157.9 billion figure covered all pension-related categories during the period.
The head of service said the government would continue to meet its pension obligations and deploy available resources towards settling outstanding retirement benefits.