The Nigerian government is set to begin paying the backlog of pension arrears, Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, announced on Tuesday, November 12.
At a peaceful rally by the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) at Abuja’s Federal Ministry of Finance, Edun assured pensioners that payments would start next week.
“We will start next week to pay everything that we can under the current budget as approved by the National Assembly,” Edun confirmed.
He explained that the delay was due to backlogs in pension contributions, which have now been addressed with a clear plan.
The Minister also emphasized that a committee had been formed to tackle the issue, and the payments would be made within the current year.
The rally, which highlighted the plight of pensioners, was addressed by the National Chairman of NUPCPS, Mr. Sylva Nwaiwu.
He expressed frustration over the lack of support for pensioners under the Contributory Pension Scheme (CPS), stating that despite the National Minimum Wage Act, pensioners had not received any increments.
Nwaiwu also pointed out that the Federal Government had not released accrued pension rights for over 20 months, leaving many pensioners in dire conditions.
“Our senior citizens are suffering… some of our members are bedridden, and some have died in the struggle,” he lamented, urging the government to act swiftly to alleviate their suffering.