PenCom and NURTW to enroll 9 million transport workers in pension scheme

Emma Ujah, Abuja Bureau Chief

ABUJA—The National Pension Commission (PenCom) has begun talks with the National Union of Road Transport Workers (NURTW) to bring an estimated nine million transport workers into the Personal Pension Plan (PPP) under the Contributory Pension Scheme (CPS).

The partnership was announced during a courtesy visit by NURTW National President Musiliu Akinsanya to PenCom Director‑General Omolola Oloworaran at the Commission’s Abuja headquarters yesterday.

Senior officials from both organisations met to discuss expanding pension coverage for transport workers through the PPP and to explore financing models that would support the purchase of modern mass‑transit vehicles nationwide.

Speaking at the meeting, Akinsanya highlighted the union’s nationwide network and its estimated nine million members who work in motor parks, logistics corridors, interstate routes and urban transport systems. He said this network presents a unique opportunity to deepen pension and financial inclusion in the informal sector.

He outlined a three‑pronged partnership framework: (1) mass enrolment of transport workers into the PPP; (2) deployment of an automated daily pension contribution system integrated into existing transport revenue‑collection platforms; and (3) development of a National Transport Workers Mobility Enhancement Programme to facilitate access to modern vehicles through structured financing arrangements.

According to Akinsanya, a key element of the proposal is a sustainable financing framework that would allow transport operators to acquire buses and other transport infrastructure with support from development finance institutions, commercial banks and other stakeholders.

Under the arrangement, daily collections from transport operators would be routed through existing union structures to service vehicle‑financing obligations while simultaneously funding individual pension accounts.

The model, he said, would improve loan‑repayment efficiency, reduce financing risks and encourage a culture of long‑term savings among transport workers who have largely remained outside the formal pension system.

Oloworaran welcomed the initiative and praised NURTW leadership for pursuing sustainable social‑protection and economic‑empowerment programmes for its members. She described the proposal as a bold intervention capable of significantly advancing pension inclusion in the informal sector and supporting broader economic‑development objectives.

She reaffirmed PenCom’s commitment to working with the union and other stakeholders to develop practical pathways for implementing the proposal. Expanding pension coverage remains a core priority for PenCom, and the initiative aligns with ongoing efforts to strengthen financial inclusion and improve the economic well‑being of Nigerians.

Oloworaran noted that the partnership also supports key objectives of the Federal Government’s Renewed Hope Agenda, particularly in social protection, poverty reduction, financial inclusion, economic empowerment and transportation‑sector reform.

She called the initiative one of the most ambitious pension‑inclusion drives targeting Nigeria’s informal sector in recent years, adding that successful implementation could significantly expand the country’s pension‑contributor base and enhance retirement security for millions of transport workers.

She further said the programme could provide a sustainable framework for modernising public transportation nationwide.

Both parties expressed optimism that the collaboration would evolve into a flagship national programme with far‑reaching socio‑economic benefits, extending social‑security coverage to millions of previously underserved transport workers.

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