President Bola Ahmed Tinubu has approved a salary increment for members of Nigeria’s armed forces.
Bello Matawalle, minister of state for defence, disclosed this on Friday in a statement by the ministry’s spokesperson, Henshaw Ogubike.
The government also approved the payment of three months’ salary arrears.
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Additionally, he has released funds to clear outstanding pensions and entitlements owed to retired military personnel.
The minister confirmed that alerts for the three-month salary increase have begun reaching military personnel, signalling a significant morale boost for the armed forces.
He lauded Tinubu’s unwavering commitment to both serving and retired members of the military, emphasising that addressing pension arrears for retirees remains a priority.
“Despite initial setbacks, be rest assured that the President will do everything within his power to uplift our military forces as they confront the challenges of insecurity,” he stated.
In another news, with an eye on reforming the nation’s power sector, the Federal Government has announced a N700 billion investment dedicated to distributing free electricity meters under its Presidential Metering Initiative. Officials say the move is part of broader efforts to ensure accountability and fairness in electricity billing while easing the financial burden on ordinary Nigerians.
To address the nation’s ongoing metering crisis—where nearly half of electricity consumers lack proper meters—a significant portion of the monthly federation revenue is now being deducted before distribution to the three tiers of government. This initiative aims to close the 50 percent metering gap, ensuring fairer billing practices across Nigeria.
Documents from the Federal Account Allocation Committee’s (FAAC) meetings, spanning April to August and reviewed by our correspondent, show the government has saved a total of N420 billion. The savings come from monthly deductions of N100 billion, underscoring efforts to bolster fiscal prudence amid mounting economic demands.
It’s worth noting that the Federal Government initially deducted N120 billion from April’s revenue as the first tranche of the Presidential Metering Initiative (PMI). This brings the total deductions from the federation account for the program to N420 billion so far, signaling its scale and financial commitment.
