Oyo State Governor, Seyi Makinde. Photo: Oyo State Govt
GOVERNOR Seyi Makinde’s decision to commence the Contributory Pension Scheme in Oyo State is a welcome policy shift that deserves applause. More importantly, it should serve as a wake-up call to the many states that continue to deny their workers the security of a modern and sustainable pension system.
With this decision, Oyo joins the Federal Capital Territory and six states, including Edo, Ekiti, Kaduna and Lagos, in implementing the pension law. Until now, Oyo had been among the 23 of Nigeria’s 36 states yet to operationalise the enabling legislation.
The Chairman of the Oyo State Pensions Board, Tunji Adekunle, announced the development in a statement issued through the Commissioner for Information, Dotun Oyelade, informing stakeholders, MDAs, and civil and public servants across the state.
According to Adekunle, the scheme will apply to officers employed in the Oyo State Civil Service from January 1, 2025, while full implementation begins on July 1, 2026.
