By Uche Amunike
The Nigerian union of pensioners (NUP) has decried the severe economic challenges being currently faced by their members and has called on the federal government to carry out urgent measures that will address the unbearable economic situation that has faced the country’s elderly population in a long time.
This disclosure was made during a press conference held at the national headquarters of the NUP in Abuja, where members expressed the frustration they were experiencing over the skyrocketing cost of living induced by the sudden removal of fuel subsidy in 2023 by President Bola Tinubu.
According to them, they were shocked that the subsidy removal which was meant to stabilise the economy, ended up causing untold suffering, for the country’s most vulnerable people, especially pensioners, who depend on fixed and inadequate incomes. They particularly complained about the increase in fuel price, which has brought about untold hyperinflation and a hike in prices of essential goods and services.
Speaking during the conference, the National President of the NUP, Comrade Godwin Abumisi, stated: ‘It is obvious that the Nigerian pensioners and other vulnerable groups in Nigeria are worse hit by the subsidy removal, which has caused an astronomical rise in the prices of goods and services.’
‘The elderly, who rely on their pensions to survive, now find themselves unable to afford basic necessities. For many pensioners, their already modest monthly pensions have become practically worthless amid the rapid inflation.’
‘Pensioners are also disillusioned by the government’s failure to deliver on its promise of a N25,000 palliative. The Federal Government had announced this aid to help mitigate the effects of the subsidy removal, but pensioners say they have been overlooked. “The Federal Government has yet to honour its promise of the N25,000 palliative and six-month wage awards to pensioners,’ he further stated.
They maintained that the promises made to support the union have remained mere lip-service, as most pensioners have been systematically neglected by the government. They have therefore called on the federal government to address the disparity in how it pays workers and pensioners, recommending that they adjust pensions in line with the newly introduced minimum wage of N70,000, because pensioners receive the same 110% wage increase as civil servants.
His words: ‘Pensioners are also disillusioned by the government’s failure to deliver on its promise of a N25,000 palliative. The Federal Government had announced this aid to help mitigate the effects of the subsidy removal, but pensioners say they have been overlooked. “The Federal Government has yet to honour its promise of the N25,000 palliative and six-month wage awards to pensioners.’
The union categorically criticised the economic policies of the Tinubu-led government, especially as it concerns the fuel subsidy removal, stating that the approach has been ill-conceived and poorly executed, thereby, leaving millions of Nigerians impoverished. They maintained that the policies have worsened the economic divide in the country, instead of providing solutions, resultantly, leading pensioners and ordinary Nigerians into their early graves as a result of the financial problems they presently face.
They also demanded that there is a need for members of the Nigerian Union of Pensioners to be involved in the decision-making processes in the country, especially those related to social media.
