The Chief of Naval Staff (CNS), Vice Adm. Emmanuel Ogalla, on Thursday, said that President Bola Tinubu had approved the implementation of 20 per cent increase in pension for the Armed Forces personnel.
Ogalla said this at the 2024 Accounts and Budget Seminar with the theme: “Optimising Nigerian Navy Non Public Fund Opportunities In A Dynamic Economic Environment The Nigerian Navy Personnel In Focus.”
Ogalla was represented by the Chief of Policy and Plans, Naval Headquarters, Rear Adm. Joseph Akpan, at the two-day event, scheduled to hold from July 25 to July 26 at the Naval Dockyard, Victoria Island, Lagos.
The CNS commended Tinubu for prioritising the welfare of the Armed Forces personnel both serving and retired.
He said the increment took effect from January.
“This and other packages, including those initiated by various services, are to boost moral for efficiency.
“This seminar is coming at a time strategies are being explored to generate funds independently from budgetary allocation in addressing welfare needs toward enhancing living standards of personnel.
“This initiative is fundamental for operational efficiency constraint that human factor is the most important for the success of any organisation including the Nigerian Navy,” he said.
“Optimising non public funds for improved personnel fare boost wellbeing and facilitates retaining skilled personnel for enhanced operational effectiveness,” he added.
He noted that the Nigerian Navy operated some schemes to enhance the welfare of its personnel.
Ogalla listed the schemes as the navy insurance, car refurbishing loan and welfare loan schemes.
“These schemes are managed by the Directorate of non public funds.
“These are critical factors necessary toward protecting the maritime environment for economic prosperity of our nation which the Nigerian Navy is saddled with,” he said.
Ogalla stressed the need for transparency, accountability and continuous evaluation in the management of these schemes to meet the needs of the personnel.
“I am delighted that lectures for this seminar have been crafted to elucidate these factors as well as evolve innovations to utilise non public funds to improve personnel welfare.
“It will not be out of place if packages like mortgage among others can be discussed for a more resilient and capable naval force.
“I, therefore, encourage us to utilise these two days to brainstorm on critical policy issues on non-public fund opportunities toward improved operational efficiency for personnel welfare,” he said.
The CNS appreciated President Tinubu for his guidance and unwavering support to the service as well as for enhancing welfare packages of the Armed Forces.
“We remain grateful and will continue to carry out our statutory mandate for economic prosperity and poverty eradication in line with your renewed hope Nigeria,” Ogalla said.
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