Governor Lucky Aiyedatiwa has announced that Ondo State is considering the strategic deployment of pension fund assets to finance key infrastructure projects, as part of efforts to bolster economic development and improve welfare for retirees. The Governor made the disclosure on April 15, 2025, when he welcomed a delegation from the National Pension Commission (PenCom), led by Director General Omolola Oloworaran, at the Government House in Akure.
During the meeting, Governor Aiyedatiwa praised PenCom’s proactive oversight and reaffirmed his administration’s commitment to full compliance with the Contributory Pension Scheme (CPS). He noted that the Ondo State Pension Commission (OSPEC) achieved a 72.44% compliance score in the last Routine Inspection and pledged to raise that figure to at least 95% before the next assessment.
Ms. Oloworaran used the visit to outline several proposed amendments to Ondo’s Pension Law aimed at strengthening the scheme. She recommended introducing a Minimum Pension Guarantee to safeguard indigent contributors, and instituting an Irrevocable Standing Payment Order to ensure uninterrupted remittances across successive administrations. She also proposed making a Pension Compliance Certificate mandatory for business licensing, registration renewals, and government contract awards, to increase accountability among employers.
The PenCom DG highlighted specific issues uncovered during OSPEC’s inspection and urged the state government to resolve them promptly. In response, Governor Aiyedatiwa assured her that most of the concerns would be addressed well ahead of the next inspection, underscoring his administration’s resolve to protect retirees’ interests and unlock pension assets for Ondo’s infrastructural growth.
