The Federal Government has approved a ₦32,000 monthly pension increase for retired federal workers, offering long-awaited relief to thousands of senior citizens grappling with the rising cost of living.
The increment, which takes effect retroactively from July 29, 2024, follows the enactment of the new National Minimum Wage signed into law by President Bola Tinubu earlier this year.
The National Salaries, Wages and Income Commission (NSIWC) confirmed the decision in a circular dated September 27, 2024, signed by its chairman, Ekpo Nta. The memo detailed the beneficiaries, covering a wide range of consolidated salary structures, including public service, education, medical, research, paramilitary, police, intelligence, and the armed forces.
Pensioners Welcome the Move
For many retirees, the announcement came as a much-needed lifeline. Speaking in Abuja, a member of the Nigeria Union of Pensioners (NUP) described the increment as “a breath of fresh air” after years of agitation.
“We have been crying out for a review that matches the economic reality. Prices of food, drugs, and even transport have gone beyond our reach. This increase, though modest, shows that our voices are finally being heard,” said Comrade Godwin Abumisi, National President of NUP.
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He, however, urged the government to ensure prompt payment without bureaucratic delays. “Too many times, good policies die on paper. We appeal that this should not be the case. Let the money enter our accounts as quickly as possible.”
Labour Leaders React
Labour leaders also welcomed the move, linking it directly to their agitation for the new minimum wage. The Nigeria Labour Congress (NLC) commended the government but stressed that pensioners deserve even more support.
“This is a step in the right direction. But let us not forget that pensioners are among the most vulnerable. Inflation has eroded their dignity. Beyond this increment, the government must look into providing health support and other welfare measures for retirees,” said an NLC official.
Wider Impact
The retroactive implementation means retirees will not only enjoy higher monthly pensions going forward but also receive arrears dating back to July. For many, this lump sum will help cushion the effect of rising inflation and soaring prices of essentials.
The NSIWC further noted that government agencies not captured in the listed salary structures can apply for their own pension adjustments, in line with constitutional provisions.
The Bigger Picture
Observers say the pension increase reflects the broader ripple effect of wage reforms triggered by the new minimum wage law. It also signals the Tinubu administration’s attempt to address the grievances of pensioners who have often felt neglected.
As pensioners wait for the first payments to hit their accounts, the mood is cautiously optimistic. “It may not solve all our problems,” said a retired teacher in Ilorin, “but at least we can now breathe a little easier.”
