Governor Lucky Aiyedatiwa of Ondo State says his administration is actively exploring ways to channel pension funds into infrastructure development, as part of a broader plan to stimulate economic growth and drive sustainable development in the state.
The governor disclosed this while receiving a delegation from the National Pension Commission (PenCom) led by the Director-General, Ms. Omolola Oloworaran, at the Government House in Akure.
According to a statement released on Thursday, the meeting focused on strengthening pension reforms, improving the welfare of retirees, and boosting compliance with the Contributory Pension Scheme (CPS).
Governor Aiyedatiwa emphasized that pension funds can serve a dual purpose—ensuring financial security for retirees while also acting as a tool for economic development.
“The commitment of this administration to pension reform is unwavering. We see pension funds as not just a means to secure the future of our retirees but also as a strategic tool to unlock infrastructural development in Ondo State,” he said.
The state currently holds a 72.44% compliance rating with PenCom based on its latest routine inspection. However, Aiyedatiwa expressed a strong resolve to increase that score to 95%, responding to the challenge posed by PenCom’s DG.
She stressed that these reforms would improve transparency, protect retirees, and guarantee stable pension remittances across successive governments.
Governor Aiyedatiwa assured PenCom that his administration is already working to address pending issues before the next inspection.
“This is a joint responsibility. We owe it to our senior citizens and future generations to build a pension system that is robust, transparent, and impactful,” he added.
Nigeria’s pension assets currently stand at over N5.5 trillion in the real sector, with PenCom pushing for stronger compliance and effective use of the funds to support national and sub-national development.
