President Bola Tinubu has approved a 20% increase in pensions for Armed Forces personnel, effective from January 2024.
The Chief of Naval Staff (CNS), Vice Admiral Emmanuel Ogalla, announced this during the 2024 Accounts and Budget Seminar held at the Naval Dockyard in Victoria Island, Lagos.
Ogalla, represented by Rear Admiral Joseph Akpan, Chief of Policy and Plans at Naval Headquarters, highlighted the president’s commitment to the welfare of both serving and retired Armed Forces members.
“This and other packages, including those initiated by various services, are to boost morale for efficiency,” he stated.
The seminar, themed “Optimising Nigerian Navy Non-Public Fund Opportunities In A Dynamic Economic Environment: The Nigerian Navy Personnel In Focus,” focused on strategies to independently generate funds beyond budgetary allocations to improve the living standards and welfare of Navy personnel.
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Ogalla emphasized the importance of the initiative for operational efficiency, stating, “Optimising non-public funds for improved personnel welfare boosts well-being and facilitates retaining skilled personnel for enhanced operational effectiveness.”
He expressed gratitude to President Tinubu for his guidance and unwavering support to the service, saying, “We remain grateful and will continue to carry out our statutory mandate for economic prosperity and poverty eradication in line with your renewed hope for Nigeria.”