Nigeria: Workers Urged to Plan for Happy Retirement Via Multiple Savings Window

25 May 2026
This Day (Lagos)
By Ebere Nwoji

Leaders in insurance and pension sectors have sensitised Nigerian workers on the need to utilise savings related insurance products and revolutionised pension administration especially the Pension Revolution 2.0 to plan for their dignified retirement through multiple available savings windows.

The Commissioner for Insurance, Mr. Olusegun Omosehin, and the Director General of National Pension Commission (PenCom), Ms Omolola Oloworaran emphasised on this at the 2026 Inspenonline Retirement Summit organised in Lagos recently.

Omosehin, who was represented at the occasion by the Head NAICOM Lagos Control Office, Dr Julius Odidi, urged workers to utilise the instrumentality of insurance products to secure a stable retirement for themselves.

Omolola Oloworaran represented by the Head of Corporate Communications at PenCom, Mr. Ibrahim Buwai, noted that the commission has enhanced and revolutionised pension administration in Nigeria through its Pension Revolution 2.0 initiative to enable workers key into pension plan despite their career of choice.

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She said that the recently rebranded Micro Pension Plan (MPP) has been strategically repositioned to offer more robust, accessible, and secure long-term financial safety nets for self-employed Nigerians and informal sector workers.

Also speaking, the Chairman STI Leasing Limited, Mr. Tom Ogboi, applauded the organisers of the summit, and called for heightened sensitisation on how workers could enjoy their post-retirement life.

Sharing his personal experience, Ogboi disclosed that he retired as far back as 2002 and has been able to enjoy his retirement doing what he loved due to strategic planning.

Also Chief Executive Officer (CEO) Centre for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, lamented the current plight of retirees in Nigeria.

He noted that many ex-workers who dedicated their active years to service were suffering due to systemic collapse and low retirement awareness.

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