The Nigerian Union of Pensioners has sounded an alarm over the meager monthly payments received by some members from their retirement savings accounts. Despite the economic hardship and increasing cost of living in Nigeria, some pensioners receive as little as N450 per month. This was disclosed by Godwin Abumisi, the National President of NUP, during a briefing with journalists in Abuja.
Expressing concern over the severe hardship faced by pensioners in Nigeria, Abumisi criticized the government for neglecting the welfare of the poor masses. He highlighted the distressing situation faced by pensioners in Enugu, where the monthly pension amounts to as low as N450. According to Abumisi, the issue of retirees receiving meager pension payments is widespread, with amounts ranging from N450 to N1,000, particularly prevalent in the Southeastern states of Nigeria.
Abumisi further provided details of the monthly pension amounts received by retirees in specific states, such as Borno, Gombe, Jigawa, Katsina, Kogi, Kwara, Niger, and Taraba. The Union’s revelation comes against the backdrop of headline and food inflation rates of 28.92% and 32.84% respectively, as reported by the National Bureau of Statistics in December.
The distressing state of pensioners’ financial situation poses a concerning issue amidst the country’s economic challenges, prompting calls for urgent intervention to alleviate the hardships faced by pensioners.