The Lagos Chamber of Commerce and Industry has called for the establishment of a sustainable Veterans Welfare Fund with public and private-sector participation, structured healthcare coverage, and employment reintegration for retired security personnel as part of a proposed law unveiled on Thursday.
The LCCI presented the Veterans Welfare and Reintegration Bill, 2026, at the 10th edition of the LCCI Security Meets Business Dialogue Series, a gathering of business leaders and security stakeholders to discuss strengthening Nigeria’s security and economic environment.
The Director-General of the chamber, Dr Chinyere Almona, said the proposed legislation would create a comprehensive framework to improve the welfare and reintegration of veterans from the Nigerian Armed Forces and the Nigeria Police Force.
She said, “The Veterans Welfare and Reintegration Bill, 2026, which we have unveiled today, is designed to establish a comprehensive framework for the welfare, protection, and reintegration of veterans of the Nigerian Armed Forces and the Nigeria Police Force who have served our nation with courage and sacrifice.”
Almona added that the bill proposed structured provisions for healthcare access; employment and economic empowerment; housing and mortgage support; pension review; and education support for dependants, alongside the creation of a dedicated welfare fund.
“The bill proposes structured provisions for healthcare access, employment and economic empowerment, housing and mortgage support, periodic pension review, and education support for dependants, alongside the establishment of a Veterans Affairs Commission and a transparent Veterans Welfare Fund with opportunities for responsible private sector participation,” she explained.
The LCCI DG noted that the proposed fund would serve as a special-purpose statutory financing mechanism for programmes supporting veterans, including healthcare support, housing initiatives, enterprise development, disability allowances and education assistance for dependants.
The chamber added that the fund would draw resources from budgetary allocations approved by the National Assembly, voluntary contributions from private sector entities, grants and donations from local and international organisations, as well as investment returns.
Almona said the proposed law would also establish a Veterans Affairs Commission responsible for administering welfare programmes, maintaining a national veterans registry and coordinating healthcare, housing and employment reintegration schemes.
She said the legislation aimed to improve veterans’ dignity and long-term security, stating, “Overall, the legislation aims to honour the service of Nigeria’s veterans, those who have defended our nation, by providing structured support systems that enhance their dignity, wellbeing, economic participation, and long-term security.”
She added that unveiling the bill marked an important step in strengthening collaboration between the government and the private sector in supporting former security personnel.
Almona said, “The unveiling of this bill today represents an important step in encouraging collaboration between government, the private sector, and national institutions to strengthen the welfare architecture for our veterans.”
On his part, the LCCI President, Leye Kupoluyi, noted that the business community had maintained strong engagement with security institutions over the past decade through the dialogue series.
Kupoluyi said the platform had helped foster cooperation and practical ideas between the private sector and the armed forces. He said, “In the last 10 years, this dialogue has endured between us and the armed forces. There has been a lot of interaction between both parties. There are a lot of tips in terms of security they have given to us in the past that we may not be able to enumerate for everyone. We have great confidence between the business community and the security forces.”
Kupoluyi added that the unveiling of the proposed bill reflected the chamber’s effort to support security personnel during and after their service.
“When people are working for the benefit of their fatherland, the little thing that all of us can do is to show that we appreciate it and we care. We have outlined some areas that we think are very important. For example, health”, he noted.
The LCCI president added that the bill also promotes employment opportunities for veterans in both public and private organisations. He listed ideas including “Taking care of the veterans after leaving service. Employment. Making it mandatory in some areas for a group of them to be employed. For example, maybe a company with over 250 employees.”
He described veterans as national heroes who deserved stronger support after active service, saying, “On that line, when you are a veteran, you are a national hero. We should treat them as national heroes. While we are sleeping, they are not sleeping. While we are sleeping, they put their lives on the line for many of us.”
The chamber said the bill would also introduce a dedicated Veterans Health Scheme, allowing eligible veterans to access general and specialist medical care; mental health services, including post-traumatic stress disorder management; disability rehabilitation services; and treatment at designated military and federal tertiary hospitals.
Other provisions include reserving at least five per cent of entry-level vacancies in federal ministries, departments and agencies for qualified disabled veterans, and encouraging private companies with at least 250 employees to participate in veterans’ employment initiatives with incentives such as tax rebates and preferential treatment in public procurement.
The proposed 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 had earlier warned that insecurity remained a major economic risk to businesses in Nigeria, noting that, “No economy can outperform its security architecture. Investors evaluate not only fiscal policies and market size but also the predictability of the security environment.”
