The Federal Government has allocated a sum of N27bn for the entitlements of former presidents in the 2025 fiscal year.
Investigations have revealed that the fund will also cover former vice-presidents, heads of state, chiefs of staff, retired heads of service, and professors.
Beneficiaries of this allocation include former Presidents Olusegun Obasanjo, Goodluck Jonathan, and Muhammadu Buhari, alongside ex-vice-presidents Atiku Abubakar, Namadi Sambo, and Prof. Yemi Osinbajo.
Others expected to benefit are ex-military Heads of State, Gen. Yakubu Gowon (retd.) and Gen. Abdulsalami Abubakar (retd.), as well as former military President, Ibrahim Babangida and retired Chief of General Staff, Commodore Ebitu Ukiwe.
President Bola Tinubu presented the 2025 budget, titled ‘Budget of Restoration: Securing Peace, Rebuilding Prosperity,’ to a joint session of the National Assembly on Wednesday.
The ambitious N49.70tn spending plan emphasises defence, infrastructure, and human capital development, with a projected N13.39tn deficit to be financed through borrowing.
According to the appropriation bill documents obtained, the Federal Government earmarked N1.4tn for pensions, gratuities, and retirees’ benefits.
Of this sum, N2.3bn is designated for former presidents, heads of state, and vice-presidents, while retired heads of service and permanent secretaries would receive N10.5bn.
Retired professors in universities are set to receive N13.5bn, and retired heads of government agencies and parastatals would get N1bn, bringing the total to N27bn.
The budget further reveals that N46bn is allocated for civilian pensions under the Office of the Head of Civil Service, while N383.9bn is earmarked for military pensions and gratuities.
