The Lagos Chamber of Commerce and Industry (LCCI) has called for the establishment of a sustainable Veterans Welfare Fund to support retired security personnel, proposing structured healthcare coverage, employment reintegration, and other welfare measures under the Veterans Welfare and Reintegration Bill, 2026.
The bill was unveiled on Thursday during the 10th edition of the LCCI Security Meets Business Dialogue Series, which brings together business leaders and security stakeholders to discuss strengthening Nigeria’s security and economic environment.
The Director-General of the chamber, Dr Chinyere Almona, explained that the proposed legislation would create a comprehensive framework to improve the welfare, protection, and reintegration of veterans from the Nigerian Armed Forces and the Nigeria Police Force.
“The Veterans Welfare and Reintegration Bill, 2026, is designed to establish a comprehensive framework for the welfare, protection, and reintegration of veterans who have served our nation with courage and sacrifice,” Almona said.
The bill proposes structured provisions for healthcare access, employment and economic empowerment, housing and mortgage support, pension reviews, and education support for dependants. It also recommends creating a dedicated Veterans Affairs Commission and a transparent Veterans Welfare Fund with opportunities for responsible private sector participation.
Almona noted that the fund would serve as a special-purpose statutory financing mechanism for programmes including healthcare support, housing initiatives, enterprise development, disability allowances, and education assistance for veterans’ dependants. Funding sources would include budgetary allocations, private sector contributions, local and international grants, and investment returns.
The LCCI DG stressed the importance of coordinated collaboration between government, private sector, and national institutions to strengthen veterans’ welfare systems and enhance their dignity, wellbeing, and long-term security.
Speaking at the event, LCCI President Leye Kupoluyi highlighted the decade-long engagement between the business community and security institutions, noting that the dialogue series has fostered practical cooperation and confidence.
Kupoluyi emphasized that the bill would promote employment opportunities for veterans in both public and private organisations. Proposed measures include reserving at least five per cent of entry-level vacancies in federal ministries, departments, and agencies for qualified disabled veterans, as well as encouraging private companies with 250 or more employees to employ veterans with incentives such as tax rebates and preferential treatment in public procurement.
The legislation also outlines a National Veterans Housing Programme, mortgage support facilities, vocational retraining, entrepreneurship development, and enterprise financing windows to help retired security personnel reintegrate into civilian economic life.
Kupoluyi warned that insecurity remains a major economic risk, saying, “No economy can outperform its security architecture. Investors evaluate not only fiscal policies and market size but also the predictability of the security environment.”
