Pensioners in Nigeria Struggle to Survive on N450 Monthly Amid Inflation

The Nigerian Union of Pensioners (NUP) has expressed its dismay over the pitiful pension payments that some of its members receive from their retirement savings accounts, despite the soaring inflation and economic hardship in Nigeria. The NUP said that some pensioners in Enugu state receive as low as N450 monthly, which is barely enough to buy a loaf of bread.

The National President of NUP, Godwin Abumisi, made this revelation in a press briefing in Abuja on Thursday. He said that pensioners in Nigeria are facing severe hardship and neglect from the government, which does not care about the welfare of the poor masses.

He said that the issue of low pension payments is widespread across the country, especially in the Southeastern states, where some pensioners receive between N450 and N1,000 monthly. He also listed the monthly pension amounts for some other states, such as 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).

He urged the government to review and increase the pension payments for the retirees, who have served the nation diligently and deserve a decent living. He said that the current pension payments are grossly inadequate to cope with the high cost of living, which has been worsened by the inflation rate.

According to the National Bureau of Statistics, the headline and food inflation rates in Nigeria were 28.92 and 32.84 per cent, respectively, in December. This means that the prices of goods and services have increased significantly, making life more difficult for the pensioners and other low-income earners.