Governor Ademola Adeleke of Osun State has approved a N4 billion bond to settle outstanding pension liabilities for retirees under the contributory pension scheme across state and local government levels.
Speaking on Thursday during the Workers’ Day celebration at Fakunle High School, Osogbo, Adeleke reaffirmed his administration’s commitment to workers’ welfare and economic stability.
“I have just approved, through the Office of the Head of Service, the payment of bond for retirees under the contributory pension scheme worth over N4 billion,” the governor declared.
He explained that the bond would be disbursed across both state and local government institutions:
“Civil service parastatals, secondary schools, tertiary institutions, and UNIOSUN Teaching Hospital retirees will receive N2,175,280,322.54, while local government and primary school retirees are allocated N2,098,466,528.87.”
The governor acknowledged the economic challenges Nigerians face and assured the workforce that his administration was not indifferent.
“I am fully aware of the high cost of living and the tough economic environment. That’s why our government is aligning with the Federal Government to cushion the effects on our people,” he said.
He further revealed efforts being made to reposition the Osun economy, emphasizing fiscal prudence and inclusive development.
“We are not borrowing to fund governance, yet we have reduced the inherited debt by over 40 percent. The Debt Management Office confirmed this in its latest report,” Adeleke noted.
“Our local content policies ensure that Osun professionals, artisans, and suppliers are actively engaged. Osun money is servicing Osun people,” he added.
In his remarks, the Chairman of the Nigeria Labour Congress (NLC) in Osun State, Mr. Christopher Arapasopo, commended Governor Adeleke for fostering a harmonious relationship with workers.
“We appreciate the governor for a rancour-free, workers-friendly administration. He has cleared salary arrears owed by past administrations, approved and paid promotion arrears, and raised the minimum wage to N75,000,” Arapasopo said.
He also called for additional support for workers through housing and vehicle refurbishing loans, recruitment into the civil service, and capacity-building initiatives.
Speaking on the 2025 Workers’ Day theme, “Reclaiming the Civic Space in the Midst of Economic Hardship,” Arapasopo stated:
“This theme encapsulates the urgent need for workers to reclaim their rights, voices, and civic engagement in times of adversity. It’s both a call to action and a rallying point for change.”
