Nigeria Allocates N334.54 Billion for Pension Contributions in 2026 Budget

The Nigerian Federal Government has allocated N334.54 billion in the 2026 budget for the contributory pension scheme, covering contributions for 674 federal agencies, parastatals, universities, teaching hospitals, and security agencies. The largest allocation of N73.671 billion is for the Nigeria Police Force, followed by allocations for the Nigeria Security and Civil Defence Corps and the Nigeria Correctional Service.

This significant budget allocation aims to ensure timely and uninterrupted pension payments for retirees, with a focus on various sectors and agencies across the country.