Category: The Nation – Nigeria

A founding member of the All Progressives Congress (APC), Osita Okechukwu, has criticized former Vice President Atiku Abubakar over his insistence on remaining in the 2027 presidential race, except a younger candidate emerges through a ‘competitive primary.’

Atiku, in a statement by his media adviser, Paul Ibe, on Thursday, dismissed reports that he had offered to step down for younger aspirants under the African Democratic Congress (ADC), describing them as false and mischievous.

He clarified that he would only concede if a younger candidate emerged through a fair contest.

Reacting in Abuja on Friday, Okechukwu, a former Director General of the Voice of Nigeria (VON), described Atiku’s stance as anti-democratic, accusing him of undermining Nigeria’s long-standing zoning and rotation principle, which he said has been the glue holding the Fourth Republic together since 1999.

Okechukwu recalled that Atiku himself benefited from zoning in the past but later campaigned against it, leading to his 2014 Peoples Democratic Party (PDP) primary victory, which had no southern aspirant.

He argued that discarding zoning in favour of ‘dollarised primaries’ amounts to eroding equity, inclusion, and stability.

According to him, Atiku’s position confirms fears that his pursuit of power is not to strengthen democratic institutions but to weaken the very principles that sustain Nigeria’s plural society.

The Impact Investors Foundation (IIF), a platform for unlocking impact capital, has unveiled a blueprint to drive gender equity and social inclusion, aiming to mobilise a cumulative $8 billion in inclusive capital over the next decade.

The ‘Gender Equity and Social Inclusion (GESI) Roadmap 2025-2035’ was officially launched at the third Gender Impact Investment Summit (GIIS) in Lagos, themed ‘Investing in Equity: Advancing Gender-Led Solutions for Inclusive Development.’

Developed in collaboration with PricewaterhouseCoopers (PwC) Nigeria, the 10-year strategic plan seeks to embed inclusive investment practices deeply within the Nigerian economy. The GESI Roadmap sets clear, data-driven targets, including the launch of 40 inclusive financial products for women, youth, and People with Disabilities (PwDs); the integration of GESI principles by 90% of General Partners; and the mobilization of $1.5 billion in domestic capital pools. Furthermore, it aims for the enactment of 20 new policy and regulatory instruments to support this transformative agenda.

The launch introduced the Nigeria Inclusive Capital Commitment 2035 campaign, a call to action designed to galvanize governments, capital providers, and financial intermediaries toward achieving these ambitious goals. ‘This GESI Roadmap is not just a plan; it’s a blueprint for a significant shift in Nigeria’s economy. The scale of the targets underscores our profound commitment to a future where no one is left behind. This incredibly exciting moment sets a powerful, decade-long course to democratize capital and transform our investment landscape for women, youth, and People with Disabilities (PwDs),’ the Chief Executive,the Impact Investors Foundation, Etemore Glover stated. She maintained that the urgency for the initiative is underscored by recent data highlighting significant financing gaps. According to PwC’s Head of ESG, Sustainability and Climate Change, Marilyn Obaisa-Osula,a study found that ‘between 2020 and 2024, only 20 percent of venture capital funding was received by female-led startups in Nigeria.’ She said the GESI Roadmap seeks to directly address this imbalance.

In her keynote address, the Chief Executive, 2X Global, a global industry body for gender lens investing, Jessica Espinoza, cited a World Economic Forum study which noted that ‘advancing women’s employment could add $12 trillion to global gross domestic product (GDP).’ She also referenced research from the Cherie Blair Foundation for Women and Boston Consulting Group, which estimated that global GDP could increase by as much as $5 trillion if women participated in entrepreneurship at the same rate as men. ‘Progress is strategic, not accidental, which is why the GESI roadmap is a critical blueprint for Nigeria’s future,’ Espinoza stressed.

Echoing this sentiment, the Sarkin Kano, His Highness Khalifa Muhammad Sanusi II CON, called for a new national policy to significantly increase the representation of women on boards and in the management of public companies. ‘This will ensure equity and give a voice to redirect policies formation as they affect women,’ he stated, arguing that female underrepresentation ‘hinders progress and limits the nation’s ability to tap into its full potential.’

Chairman of the Impact Investors Foundation, Frank Aigbogun, emphasised the Summit’s transition from advocacy to action. ‘Building on those foundations of policy advocacy and innovative models, we now stand at a crucial turning point.This year’s theme signals our collective resolve to move decisively from aspiration to accountability. Today is truly historic because we are not simply holding another summit; we are launching the Gender Equity and Social Inclusion (GESI) Roadmap,’ he said.

He continued, ‘The targets we have set underscore the urgency of this challenge and the scale of our ambition: we aim to mobilize $8 billion in cumulative gender-inclusive capital, with $1.5 billion coming directly from domestic capital pools, and achieve a 90% integration of GESI principles among general partners. This framework is our commitment to ensure that capital is not exclusive, but truly inclusive.’

In a practical step to drive immediate investment, the summit included a dedicated ‘deal room,’ where investment-ready, women-led and women-owned businesses directly connected with capital providers, including impact investors and fund managers.

The GESI Roadmap was developed with vital support from distinguished institutions and organisations, including PwC Nigeria, GIZ, the Ministry of Women Affairs and Social Development, the Ministry of Youth Development, and the Research and Innovation Systems for Africa (RISA) Fund. The launch reaffirms the Impact Investors Foundation’s dedication to establishing actionable interventions that build a gender-inclusive economy, driving both prosperity and social impact in Nigeria.

Nigeria spent $2.86 billion on external debt servicing in the first eight months of 2025, new figures from the Central Bank of Nigeria (CBN) have shown. This accounted for 69.1 per cent of total foreign payments of $4.14 billion during the period.

Comparatively, the country spent $3.06 billion on debt in the same period of 2024, representing 70.7 per cent of total foreign payments of $4.33 billion. The data revealed that although Nigeria reduced its absolute debt service bill by about $198 million (6.49%) year-on-year, debt repayments still dominate its external obligations.

Essentially, for every $10 that left Nigeria between January and August 2025, nearly $7 went towards servicing debt. Monthly data showed significant fluctuations, reflecting the structure of Nigeria’s loan obligations. In January 2025, the country paid $540.67 million on debt, slightly lower than $560.52 million in January 2024.

By February, payments dropped further to $276.73 million, before surging to $632.36 million in March, more than double the $276.17 million recorded in March 2024. April remained high at $557.79 million compared with $215.20 million a year earlier, while May recorded a sharp fall to $230.92 million, down by $623.45 million from the $854.37 million in May 2024.

In June, the figure climbed modestly to $143.39 million, almost triple the $50.82 million recorded a year earlier. July slipped again to $179.95 million, representing a two-thirds decline compared with the $542.5 million of July 2024. By August, payments recovered to $302.3 million, slightly higher than the $279.95 million recorded a year earlier.

The month-on-month changes in 2025 underline the erratic nature of Nigeria’s debt service obligations. From January to February, payments fell by nearly 49 per cent , then spiked by 129 per cent in March before dropping by 12 per cent in April. May saw a steep decline of 59 per cent relative to April, June fell further by 38 per cent before mild rebounds in July and August.

In 2025, 69.1 per cent of all foreign outflows in the first eight months were used to service debt. In the same period of 2024, the share was even higher at 70.7 per cent . This showed that debt service obligations consistently consume at least seven out of every ten dollars Nigeria spends on international payments.

This trend raises important concerns. First, it places pressure on the country’s foreign reserves, especially in months of heavy outflows such as March 2025, when $632.36 million went to debt servicing. Second, it reduces Nigeria’s ability to allocate scarce foreign exchange to essential imports and capital goods that could support domestic production. Third, it exposes fiscal vulnerability because debt obligations are non-discretionary, meaning the government cannot defer or avoid them without severe consequences.

Glovo has reaffirmed its commitment to empowering Small and Medium enterprises in Nigeria with the new edition of Glovo Academy in Abuja.

Glovo Academy is an in-person learning and development initiative designed to provide training and digital tools to help local businesses optimise operations, boost their brand, and increase online sales through the Glovo platform.

In this Glovo Academy edition, the Head of Growth, Glovo Nigeria, Reni Onafeko, noted that the company remains committed to empowering SMEs on its platform by offering access to opportunities such as advisory and finance. She explained that with the million of orders delivered since the launch of Glovo in 2022 in Abuja, over N11 billion in value has been delivered to partners.

According to her, the company has recorded 30% increase year-on-year in orders in Abuja, working now with over 1,000 local restaurants. She emphasised the need for SMEs to embrace digital literacy to enable their businesses to expand, formalise their operations, and scale sustainably.

Speaking during the panel session, the Special Adviser to the Minister of State for Industry, Ifeoma Williams, stressed that MSMEs remain the backbone of any economy, noting that current data from the National Bureau of Statistics revealed that 40% of Nigeria’s Gross Domestic Product is derived from these small businesses.

While bemoaning poor access to loan facilities from the federal government for many SMEs, she attributed the challenge to a lack of proper structure and the right business plan. She stated that the federal government is doing a lot to provide the right policies for thriving businesses.

Making his contribution, the founder of Ahmad’s Sharwarma, Tijani Mustapha, who delved into the operational challenges confronting SMEs, stated that business owners must have staying power or resilience to overcome the challenges of human resources and quality control.

Mustapha underscored the need for SMEs to invest in technology to stay competitive and grow their businesses.

‘Any business we do today must embrace technology. Through technology, we can gather customer feedback, keep the business in check, and improve,’ he said.

Also speaking at the session, Kayode Meyanbe, Head of ICT, Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, stated that through the agency, the federal government is leveraging a partnership with the Corporate Affairs Commission to provide free registration for 250,000 businesses.

Kayode urged SMEs to take advantage of the opportunity to formalize their operations and access the opportunities provided.

‘As an agency, we have partnered with banks to provide loans at an interest rate below 10% to support their businesses. Not only that, state governments have also been helping us with funds for these SMEs to access our loan facilities. Beyond that, we have also engaged BDSPs to provide capacity training on how to run businesses for SMEs. We do this through Kaduna Business School and Lagos Business School to dispense need-based skills and curriculum to SMEs,’ he said.

In his remarks, Head of Commercial at Glovo , Nigeria, Kolawole Adeniyi, disclosed that the platform, which registered its presence in 2021 in Africa, has invested 206 million euros in the African continents.

According to Adeniyi, the platform has impacted businesses, with 90% belonging to the SMEs category, and offers N55 billion in direct economic value generated for partners.

At the event, presentations and sessions were held for partners to educate them about the company’s operations and capacity training. The training session and presentation focused on operational excellence, marketing, addressing customer complaints, and capacity-building training on business and financial literacy or management facilitated by the Enterprise Development Centre, Pan Atlantic University.

The Labour Writers’ Association of Nigeria (LAWAN) will hold its yearly conference on October 10 at Golden Tulip, Ibadan.

The event’s theme is: ‘Future of work in the era of Artificial Intelligence: A wake-up call for stakeholders’.

In a statement, the association’s Chairman, Toba Agboola and Secretary, Adenike Ajiboye, said the programme is aimed at achieving a plan for securing mutual accountability and investment plans, which is crucial for Nigeria’s growth and development.

According to the chairman, the event will bring together technocrats and speakers from various sectors.The duo stated that the speakers would discuss various topics such as ‘Employers’ Preparation and Response to the AI Revolution in the workplace’; ‘Job security and the future of trade unions in the AI Era’, and also ‘Social security and protection for journalists amid AI disruption’, among others.

Expected at the event are the President, Nigeria Labour Congress (NLC), Joe Ajaero, and his Trade Union Congress (TUC) counterpart, Festus Osifo; Managing Director, Nigeria Social Insurance Trust Fund (NSITF), Oluwaseun Faleye, and Director-General, National Pension Commission (PenCom), Omolola Oloworaran, among others.

The conference is expected to be chaired by the General Secretary, Non-Academic Staff Union of Education and Associated Institutions (NASU), Peters Adeyemi.

Dr. Habeeb Olalekan Okunola MON, OFR is a prominent figure in Nigeria’s business landscape, known for his extensive experience and remarkable achievements. As the President of CINI Holdings, he has demonstrated exceptional leadership and business acumen, traits that have been evident since his formative years. Dr. Okunola embodies the principle that opportunity meets preparedness; he skillfully navigated the complexities of the business world, achieving significant milestones early in his career.

Affectionately referred to as the Akosin of Yoruba Land, he is not only recognized for his professional successes but also for his commitment to philanthropy. Dr. Okunola is a generous benefactor, known for his willingness to offer financial support to those in need, embodying the spirit of giving. He detests the sight of anyone suffering and consistently goes out of his way to bring joy to the less fortunate. This passion for uplifting others led him to establish the Habeeb Okunola Foundation, a non-profit NGO dedicated to fostering educational development, empowering women, enhancing health welfare, and providing various forms of assistance to those in distress.

Despite holding an undergraduate degree in Philosophy from the University of Lagos, Dr. Okunola has never confined himself to traditional academic pursuits. While many of his contemporaries pursued more superficial interests, he chose to deepen his knowledge base and expand his skill set. In 2020, he attended Harvard Business School, where he completed a course in Leading Global Business, equipping himself with strategic insights applicable to a global marketplace. More recently, earlier this year, he furthered his education at the Wharton Aresty Institute of Executive Education at the University of Pennsylvania, reinforcing his commitment to continuous learning and professional development.

This combination of leadership, philanthropy, and ongoing education illustrates Dr. Okunola’s dedication not only to his own success but also to the betterment of society as a whole.

The Nigerian music scene has just been electrified with the release of Fortune, the highly anticipated 7-track EP from fast-rising Afro-Fusion artist, Enielayefa Fortune Ebikake, popularly known as Iv Tune.

The project, which officially dropped on October 3, 2025, is already making waves with its standout track; Rock Your Body, a smooth, flirty, and irresistible anthem that’s fast becoming a fan favorite. With its playful lyrics, magnetic rhythm, and dance-ready beat, the track is primed to dominate playlists, nightclubs, and TikTok challenges nationwide.

With Fortune, Iv Tune not only proves his artistry but also positions himself as a global export in the making. The song is pure vibes and versatility on display.

Iv Tune effortlessly blends Afrobeats, RnB, and global sounds into one dynamic wave of music. From the hustle-driven urgency of Time Is Money, to the fiery heat of Fire On Me, and the uplifting energy of Come Alive, this EP hits every mood.

It’s both personal and universal, a true soundtrack of ambition, love, struggle, and joy.

‘Speaking on the release, the musician said: ‘This EP is me stepping into my destiny. Each song reflects my journey – the struggles, the dreams, the wins.

Fortune is about embracing life’s challenges and still finding reasons to dance, to live, and to believe.’ Now streaming on all major platforms, Fortune comes with a vibrant promotional rollout.

Stakeholders have expressed grave concern over the crisis between the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and Dangote Refinery and Petrochemical, warning that the effect could cripple the nation.

According to stakeholders, the trade dispute has put Nigeria’s ambition of becoming Africa’s refining hub to test.

They warned that a prolonged dispute could push up fuel prices, strain households and businesses, and discourage local and foreign investors.

They, however, called for a final resolution to avoid such industrial disputes from escalating into a national emergency.

Also, the Nigeria Employers’ Consultative Association (NECA) expressed grave concern over the action by PENGASSAN, warning that the action amounts to self-help and tantamount to sabotage capable of derailing the country’s fragile economic recovery.

In a statement in Lagos, the Director-General of NECA, Mr. Adewale-Smatt Oyerinde, emphasised that a conflict is an inevitable feature of the labour ecosystem, and Nigeria has statutory and institutional frameworks to address any, including the Industrial Arbitration Panel (IAP) and National Industrial Court of Nigeria (NICN).

‘Any action capable of discouraging investment, undermining enterprises sustainability, or harming the workers that the unions claim to protect will be counter-productive. While trade unions have the legitimate right to embark on industrial action, such rights must be exercised responsibly and within the bounds of the law.

‘It is unacceptable for any union to conscript or coerce those not interested in its action or disrupt the operations of legitimate businesses not party to the dispute. Treating institutions of labour administration with disdain and resorting to self-help is not only absurd but also against all known Conventions and Recommendations. When employers or workers are aggrieved, there are institutions created to adjudicate or arbitrate in such matters. Nigeria’s recovering economy cannot be sacrificed on the altar of actions and pronouncements that are alien to global and local industrial relations practice,’ he said.

He noted that uninformed and disruptive actions that could jeopardise the nation’s economic survival are neither envisaged nor acceptable in global labour practice.

He said: ‘NECA will not be a passive onlooker as the foundation of Nigeria’s labour ecosystem is trampled upon. While we acknowledge the right to strike, such rights cannot infringe on the rights of others or threaten the survival of enterprises.’

Citing international labour instruments, including ILO Conventions 87 and 98, Oyerinde reaffirmed NECA’s commitment to upholding global labour standards, decent work and responsible business conduct, while not negotiating employers’ rights to manage their enterprises and investments within the ambit of the law.

He stressed that the protection afforded to union officials under international conventions does not extend to sabotage, coercion, or actions that undermine legitimate businesses or threaten national security.

Oyerinde called on the Minister of Labour and Employment to stop the wanton and wilful denigration of the industrial relations system.

He said: ‘With Nigeria sending one of the highest delegations to the ILO conference annually, it is curious that basic industrial relations principles, Conventions, and Recommendations remain poorly applied.’

He called for a resolution through lawful and constructive channels, warning that failure to act decisively could have far-reaching consequences for economic sustainability, job creation and preservation, investment attraction and promotion and national development.

Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said shutting down the oil and gas sector could cripple the nation, describing it as ‘the lifeblood of the economy’ in terms of energy, foreign exchange, and revenue.

He warned against risking national stability for the interests of a few workers, calling PENGASSAN’s action unjustifiable.

‘What about those who have invested? What about consumers and other investors in the value chain? Their interests matter too. The union should not be this selfish, inflicting such pain and disruption on the economy,’ he said.

Yusuf estimated the economic losses at billions of naira.

‘You shut down and disrupt the entire process. By the time you resume, you must start over. The same goes for power stations, which depend on gas. This kind of impunity must not continue just because some people have power over strategic sectors,’ he said.

Prof. Chiwuike Uba, a Development econo­mist as well as Governance, and Public Financial Manage­ment (PFM) expert, said the dispute is not merely an industrial rela­tions issue; it poses significant risks to economic stability, energy security, governance credibility, and the well-being of millions of Ni­gerians.

He said: ‘This crisis is a litmus test of Nigeria’s gover­nance capacity. It examines whether legitimate worker rights and corporate governance can be reconciled with the public interest in essential services.

‘Fiscal authority and social policy must be de­ployed quickly, transparently, and effectively to protect the most vulnerable.

‘At the same time, public institutions must up­hold the rule of law while preventing a narrow industrial dispute from escalating into a national emergency.

‘How Nigeria responds will signal its ability to govern strategic sectors responsibly, protect cit­izens, and maintain credibility in domestic and international markets.’

He said globally, countries with large-scale refining infrastructure, such as India and the U.S., treat disruptions in national refineries as strategic emergencies, often mobilising contingency im­ports, stock releases, and immediate negotiations with unions.

He said the government’s handling of the Dangote crisis would thus be watched not only domestically but by investors and development partners assess­ing institutional reliability.

Also, a lawyer and expert on labour matters, Paul Omoijiade, said Dangote could not prevent his employees from joining the unions.

Noting that the capitalists could not do anything without labour, which is one of the four factors of production, he warned against the implications of trampling on the right of workers to unionise.

Also, a development economist at Governance Professional, Prof. Chiwuike Uba, called for immediate action, noting that industrial disputes should not escalate into a national emergency.

He urged that a neutral tripartite framework, including the Ministry of Labour, NNPCL, Dangote management, PENGASSAN, and an independent arbiter, should negotiate a suspension of supply disruptions while contested dismissals are reviewed.

According to him, contingency supply measures must avert scarcity, including transparent releases of strategic stocks and emergency imports.

Ekiti State Governor Biodun Oyebanji has unveiled his giant strides and developmental growth since he came into the saddle. He said his administration was committed to making Ekiti the new investment destination.

The governor said his government had undertaken a combination of transformative policy decisions and pushed critical infrastructure development to a new height.

He made this known at the 13th edition of the MARKETING EDGE EDGE awards and dinner held in Lagos. He won the 2025 Grand Prix at the awards.

On advertising development and its relevance to economic growth, Oyebanji said advertising remained a powerful catalyst for economic growth because of its role in stimulating consumer demand for goods and services across the world.

The governor, represented by his Chief of Staff, Mr Niyi Adebayo, disclosed in his key note speech that the ‘world over, advertising remains a powerful catalyst for economic growth, stimulating consumer demand for goods and services, fostering competition among businesses, driving mass production and in the process, lowering costs and prices, and creating jobs.”

He said: ‘From advanced economies to emerging markets, the marketing communication industry plays a critical role in shaping commerce and consumer behaviour. In Nigeria, the marketing communications industry has been even more pivotal to national growth and development.

‘Over the years, practitioners have projected the country’s image and supported the visibility of local businesses, helping to attract investments and position brands for competitiveness. From its humble beginning, advertising in Nigeria has grown into a multi-billion-naira industry.’

Oyebanji noted that ‘Nigeria’s advertising market was valued at N605.2 billion in 2023, with projections pointing to N893 billion by 2028, representing a Compound Annual Growth Rate (CAGR) of 18.7 per cent since 2018. This trajectory highlights the sector’s resilience and its contribution to the broader economy. The figure will be much higher if we factor in public relations, corporate sponsorships, social media influencing and a host of below-the-line marketing spending.’

MARKETING EDGE publisher and the chief organiser of the annual award, Mr. John Ajayi, thanking the Nigerian business community and the marketing and advertising sub-sector of the national economy for their years of support, patronage and acceptability, noted: ‘Every year, we gather to celebrate brands and advertising excellence; you always add colour and grandeur to it by making it a festival of brands and ideas.

‘Without you, this event would not have been this colourful and memorable. Ours have become one of the most anticipated events in the social calendar of the Nigerian integrated marketing communications eco-system.

‘We are gathered here to celebrate the achievements of some of the most successful brands, creative agencies, public service and political brand personalities, talented and dedicated personalities and professionals of distinction and honour across borders.

‘These outstanding personalities, brands, services, businesses and personalities have made significant contributions in different sectors of the economy, and we are grateful for their consistency, hard work and dedication that continue to impact every facet of our national growth and development.’

Director General, National Pension Commission (PenCom), Omolola Oloworaran disclosed that Pension assets have grown over N25 trillion fueling national development through strategic investments, while also securing regular monthly pensions for over 552,000 retirees and lump sum benefits for an additional 291,735 retirees.

She noted that in total, more than 844,000 retirees across both public and private sectors now enjoy retirement benefits that are steady, reliable, and transparent. Presently, more than 10 million Nigerians from public service employees to private sector workers, and even artisans and the self-employed under the Personal Pension Plan, are covered under the CPS.

Oloworaran who was represented by the Acting Commissioner Technical PenCom, Hafiz Kawo Ibrahim disclosed this at the Stakeholders Conference on the working of the Contributory Pension Scheme, CPS in Abuja, stating that reform is a continuous journey, and in line with the commission mandate to protect contributors and guarantee dignity in retirement, PenCom has rolled out key interventions that are changing lives.

She outlined these interventions as, ‘Pension Boost 1.0, enhancing pensions for over 241,000 retirees, representing 80 per cent of those under Programmed Withdrawal. Monthly pensions rising from N12.157 billion to N14.837 billion, effective June 2025. Since July 2025, no retiree waits to access their pensions. Payments are now immediate, aligning with monthly salary releases from the Ministry of Finance.

‘The reintroduction of gratuity for civil servants working with the Office of the Head of the Civil Service, with a framework being developed to restore gratuity benefits for federal workers under CPS, in line with Section 4(4) of the PRA 2014. FGN Bond Issuance for Pension Liabilities approval has been secured for the issuance of ?758 billion bonds to clear long-standing pension obligations, including pension increases owed since 2007.

This bold step by President Bola Ahmed Tinubu deserves commendation, as it will bring much-needed relief to vulnerable pensioners and restore confidence in the system.

‘A Stronger Prudential Standards for Operators, minimum capital and governance requirements for Pension Fund Administrators (PFAs) and custodians have been revised to ensure greater financial stability, service delivery, and technological resilience. The Issuance of Five New Regulations under the Pension Revolution 2.0 initiative, including:

Whistle Blowing Guidelines for Pension Fund Assets, revised regulation on investment of Pension Fund Assets’.

She explained the Introduction of Free Health Insurance for Retirees, stating that it will begin later this year, starting with pensioners in lower-income categories and ensuring dignity and security beyond financial pensions, even though the CPS has achieved much, challenges remain. Coverage expansion is still limited, with several States and employers yet to fully comply. Public skepticism, often shaped by painful experiences of the past, continues to undermine trust in the system she said.

Speaking, the Chairman National Salaries Incomes and Wages Commission, Mr. Ekpo Nta said the 1999 constitution provided in section 173(13) states that pension shall be reviewed every five years or together with any salary civil service review. This he said is based on the pension constitution that gave it power to examine the current rate of retirement benefits and recommend appropriate measures.