PenCom and NURTW partner for pension inclusion, targeting nine million transport workers with the Personal Pension Plan, daily contributions and vehicle financing support for a stronger retirement future
In Abuja on Wednesday, June 17, 2026, the Director-General of the National Pension Commission, Omolola Oloworaran, received the National President of the National Union of Road Transport Workers, Musiliu Akinsanya, popularly known as MC Oluomo, for high-level talks on a major new partnership.
Also read: Osun NURTW chair denies B-Red attack allegation
The initiative aims to enrol an estimated nine million transport workers into the Personal Pension Plan under Nigeria’s Contributory Pension Scheme, marking a significant push to extend retirement benefits to the informal sector.
Discussions centred on expanding pension coverage for workers in motor parks, logistics corridors, interstate routes and urban transport networks.
The collaboration also explores innovative financing models to help operators acquire modern mass-transit vehicles.
Akinsanya highlighted the union’s vast nationwide membership as a powerful platform to bring long-overlooked workers into the formal pension system.
He presented a three-pronged framework that includes mass enrolment, an automated daily contribution system linked to existing revenue platforms, and a National Transport Workers Mobility Enhancement Programme.
This programme would channel daily collections through union structures to service vehicle financing while building individual pension savings.
The approach promises improved repayment efficiency, lower financing risks and a stronger culture of long-term savings.
Oloworaran welcomed the proposal warmly, describing it as a bold intervention that could transform pension inclusion in the informal sector and support broader economic development.
She noted that the plan aligns closely with the Federal Government’s Renewed Hope Agenda on social protection, poverty reduction, economic empowerment, financial inclusion and transportation reform.
Both leaders expressed optimism that the partnership could become a flagship national programme, delivering far-reaching socio-economic benefits and modernising public transportation while securing retirement futures for millions.
The Personal Pension Plan offers flexible, voluntary retirement savings for self-employed individuals and informal sector workers, allowing contributors to save at their own pace and access portions of their funds under specified conditions.
Also read: MC Oluomo rejects Baruwa takeover of NURTW secretariat
This landmark engagement between PenCom and NURTW represents a transformative step toward greater financial security for Nigeria’s hardworking transport operators.
Victory Emmanuel is a journalist and contributor to Freelanews.com, covering news, business, and public affairs.
