Oyo State Governor, Engr. Oluseyi Abiodun Makinde, has approved an upward review of the monthly allocation to the Oyo State Local Government Staff Pension Board from One Billion Naira (₦1bn) to Three Billion Naira (₦3bn) to accelerate the payment of gratuities and other entitlements.
The Chairman of the Board, Hon. Akeem Ademola Ige, disclosed this in a press statement issued and made available to newsmen on Thursday afternoon.
Hon. Ige described the governor’s approval as a clear demonstration of the administration’s sustained commitment to the welfare of pensioners in the state.
According to him, the increase from ₦1bn to ₦3bn is “an unprecedented, monumental and highly commendable feat” that will significantly assist the Board in clearing the backlog of accrued gratuities and death benefits owed to retired primary school teachers and local government retirees across Oyo State.
He noted that the enhanced allocation would translate into a rise in the number of beneficiaries receiving payments for gratuity and death benefits.
“On behalf of all the pensioners in Oyo State, most especially retired primary school teachers and local government retirees, I sincerely appreciate the workers- and pensioners-friendly Governor, His Excellency, Engr. Oluseyi Abiodun Makinde, for the upward increase of the Board’s allocation to Three Billion Naira,” Ige stated.
He added that the development further reflects the governor’s commitment to fulfilling his electioneering promises to the people of the Pacesetter State.
The Pension Board Chairman also urged pensioners in the state to continue to pray for and support the governor in order to enjoy more dividends of democracy.
“At the Local Government Staff Pension Board, we promise to implement all government policies and programmes with the fear of God in the daily discharge of our duties,” he assured.
