THE Federal Parastatals and Private Sector Pensioners Association of Nigeria (FEPPPAN) has commended President Bola Tinubu for the recently approved N32,000 addition to pensions for Nigerian pensioners under the Defined Benefit Scheme.
Following a recent circular from the National Salaries, Incomes and Wages Commission in conveying the president’s approval of the increment and its implementation, FEPPPAN, one of two unions representing pensioners under the Pension Transitional Directorate Arrangement (PTAD) payroll, expressed appreciation to the president for his “unprecedented efforts in boosting the welfare of pensioners.”
FEPPPAN, in a letter signed by its General Secretary, Franklin Erinle and Deputy President General, Elder Benjamin M. Amako, hailed the president’s swift action in ensuring that pension increases were issued promptly in the same month as the minimum wage adjustments for workers.
The action, according to FEPPPAN, breaks from a long-standing tradition where pensioners were left waiting for extended periods, sometimes years before they could receive any adjustment to their pensions after salary increases for active workers had already been implemented.
The associate acknowledged the president’s “unparalleled and unprecedented concern” for the welfare of senior citizens, some of the most vulnerable in Nigerian society.
“The importance of this gesture cannot be overstated. Pensioners in Nigeria have historically been neglected in the nation’s socioeconomic policies, often sidelined when it comes to critical welfare provisions.
“As individuals who have spent decades contributing to the country’s growth, they now find themselves on the margins, grappling with inadequate financial support amidst rising inflation and an increasingly challenging cost of living.
“President Tinubu’s administration with its ‘Renewed Hope’ agenda, through this pension review, has demonstrated that pensioners are not an afterthought but an integral part of the nation’s welfare structure. We appreciate you Mr President and we are grateful that you care about Nigerian pensioners and have shown it through this action and approval for prompt payment of pensions,” FEPPPAN added.
Furthermore, FEPPPAN expressed hope in President Tinubu’s economic reforms and urged that practical steps and strong-willed actions be taken to ensure that the reforms deliver turnaround solutions and economic growth to cushion the biting hardship in the country and improvement in the lives of the citizens. The union also pleaded that more comprehensive support be given to pensioners across board to enable them to survive the hard times.
Moreover, FEPPPAN said it was crucial that the government institutionalises a system that regularly adjusts pensions to keep pace with inflation and cost-of-living.
Pensioners are among the most vulnerable citizens in Nigeria. Many of them rely solely on their pensions for survival and with the skyrocketing prices of essential goods and services, including healthcare, this income often falls woefully short of meeting their basic needs.
The N32,000 increment recently added to pensions is certainly a step in the right direction, though the harsh economic reality in Nigeria bites harder.
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