The Federal Government has proposed a 53% increase in the 2025 budget for military pensions, following protests from retirees over unpaid dues.
Allocations will rise from N221.66 billion in 2024 to N338.90 billion in 2025, with specific funds earmarked for military pensions, expected retirees, and death benefits.
This increase comes after retired military personnel demanded payment for various entitlements, including a salary increment and a refund of pension deductions. Protests at the Ministry of Finance in Abuja have led to government promises of payments; however, many retirees allege that commitments have not been fully honored, prompting further demonstrations.After a protest on January 7, 2025, retirees began to receive payments for their overdue entitlements.
The Chairman of the Military Pension Board confirmed the transfer of funds, leading protests to temporarily cease. Despite the proposed budget increase, concerns remain regarding the efficiency and transparency of the Military Pensions Board, prompting Senate inquiries into potential financial mismanagement.
The planned increase appears to be a positive step, though effective implementation of these commitments remains critical.
