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Sunday, February 25, 2024

Nigerian pensioners struggle as monthly pensions plummet to N450

National Union of Pensioners reveals dire economic hardships faced by retirees, citing meagre monthly pension payments as low as N450

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During a poignant press briefing in Abuja, National Union of Pensioners (NUP) President Godwin Abumisi shed light on the harrowing reality faced by retirees across Nigeria. Abumisi decried the alarming state of affairs where pensioners in some states receive shockingly low monthly pensions, ranging from a mere N450 to N1,000.

Abumisi’s remarks underscored the profound economic downturn gripping the nation, amplifying the plight of pensioners who bear the brunt of financial insecurity. He criticized the government’s apparent disregard for the welfare of its citizens, highlighting the stark disparities in pension disbursements, particularly in states like Enugu.

The disparity in pension rates, Abumisi elucidated, stems from the absence of pension harmonization, a longstanding issue the NUP has tirelessly advocated to address. Moreover, the failure of several state governments to implement revised minimum wage standards, set at N18,000 in 2010 and N30,000 in 2019, exacerbates the pension crisis.

Abumisi’s remarks come amid the Federal Government’s expressed intent to raise pension rates for retirees in 2023. However, the announcement offers a glimmer of hope amidst the pervasive financial struggles endured by pensioners nationwide. As pensioners await tangible improvements in their financial security, Abumisi’s advocacy serves as a clarion call for urgent reforms to safeguard the welfare of retirees across Nigeria.

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