The economic hardship in Nigeria has led to severe ramifications for pensioners as the Nigerian Union of Pensioners (NUP) reveals shockingly low monthly retirement savings account (RSA) payouts. NUP’s National President, Godwin Abumisi, disclosed in a press briefing in Abuja that some pensioners receive as little as N450 monthly, reflecting the dire situation amidst soaring living costs.
Expressing dismay, Abumisi criticized the government’s disregard for the welfare of pensioners, stating, “In Nigeria, the government does not think about the poor people.” The NUP president highlighted the dire condition of pensioners in Enugu, where some receive a meager N450 monthly.
Moreover, the NUP president underscored the widespread issue of retirees receiving paltry pension payments, citing specific states with retirees receiving as little as N1,000 monthly, including Borno (N4,000), Gombe (N8,000), Jigawa (N12,000), Katsina (N7,000), Kogi (N5,000), Kwara (N3,000), Niger (N4,000), and Taraba (N5,000).
This alarming revelation comes against the backdrop of soaring headline and food inflation, standing at 28.92% and 32.84% respectively in December, as reported by the National Bureau of Statistics (NBS). The juxtaposition between these dismal pension figures and the spiraling inflation paints a grim picture of the challenges facing Nigerian pensioners amidst the country’s economic woes.
