Finance Minister Pushes for Digitization of Pension Administration in Nigeria

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The Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, emphasized the imperative of digitizing pension administration in Nigeria to ensure transparency. Mr. Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, disclosed that Mr. Edun visited the headquarters of the Pension Transitional Arrangement Directorate (PTAD) in Abuja to assess the progress of automating the Directorate.

During his visit, Mr. Edun reiterated the federal government’s unwavering commitment to improving pension management and enhancing the welfare of pensioners. He stressed the need to prioritize backend computation projects aimed at enhancing the efficiency and transparency of pension entitlements.

Highlighting President Bola Tinubu’s dedication to pensioners’ welfare amidst essential economic reforms, Mr. Edun assured of the Ministry of Finance’s support for recent pension increments in accordance with Section 173:3 of the 1999 constitution. He hailed the initiative as a historic milestone in Nigerian pension management, underscoring the government’s commitment to timely payment of pension arrears and entitlements.

Mr. Edun’s visit underscored the Ministry’s strategy to enhance fiscal management and promote socioeconomic stability through improved governance of public funds and the adoption of digitization. He emphasized the importance of robust and efficient pension fund management systems aligned with broader economic goals of transparency and accountability.

Dr. Chioma Ejikeme, Executive Secretary of PTAD, assured the Minister of timely pension payments to senior citizens in a seamless manner. She highlighted PTAD’s high service standards, which have eliminated the need for pensioners to travel to Abuja for verification, aligning with the government’s emphasis on enhancing public financial management.

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