MARGARET CHIDERA
ABUJA, Nigeria – The National Union of Pensioners (NUP) has expressed frustration over the economic hardship faced by pensioners and other vulnerable Nigerians due to the removal of fuel subsidies.
Speaking at a press conference in Abuja, the President of NUP, Comrade Godwin Abumisi, highlighted the negative impact of the “unplanned” fuel subsidy removal announced by President Bola Tinubu during his 2023 inauguration.
According to Abumisi, the removal has resulted in hyperinflation, leading to a sharp increase in the prices of goods and services, and pensioners, already struggling with meager payments, are among the worst affected.
Comrade Abumisi criticized the government for being insensitive to the plight of Nigerians, particularly the poor and pensioners.
“The Nigerian pensioners through their umbrella body, the Nigeria Union of Pensioners (NUP) wish to unreservedly express their anger and frustrations on the pains unleashed on them and other vulnerable Nigerians over incessant hike in fuel prices, resulting from the ‘unplanned’ fuel subsidy removal as pronounced by President Bola Tinubu during his inauguration ceremony in 2023.
“It is obvious that the Nigerian pensioners and other vulnerable groups in Nigeria are worse hit by the subsidy removal which resulted to hyperinflation, characterized by astronomical rise in the prices of goods and services which has negatively affected every strata of our lives.
“Regrettably, as the poor Nigerians and pensioners alike who are always at the receiving end of every obnoxious and insensitive policy of Federal Government were yet to recover from the last hike in PMS which gave birth to the “End Bad Governance” protest across the country just a few months ago. And as if oblivious of the resultant consequences of the protests, the Federal Government defiantly went ahead to increase fuel price of PMS to further impoverish, pauperize and choke the Nigerian masses in a manner capable of sending them to their early graves.
“As far as the NUP is concerned, this is the height of government insensitivity and lawlessness, which might result in unimaginable grave consequences, as Nigerians can not afford to be beggars in their own oil-rich country.”
He pointed out that despite widespread protests against previous fuel price hikes, the government continued to raise the price of Premium Motor Spirit (PMS), further worsening the living conditions of many.
The NUP leader warned that such policies could have dire consequences, as Nigerians are increasingly feeling “choked” and impoverished in their own country, which is rich in oil resources.
The NUP used the press conference to remind President Tinubu of the devastating situation pensioners are facing, noting that their monthly pensions have become practically useless in the face of rising costs.
Abumisi stressed that pensioners lack representation in government, and the NUP’s efforts to advocate for their rights are often ignored. “Our patience is overtaxed,” he declared, urging the government to act swiftly to alleviate the suffering of pensioners and other vulnerable groups.
One of the major points of disappointment raised by the NUP was the government’s failure to deliver on its promise of providing N25,000 palliatives to pensioners and the much-publicised six-month wage award.
The union described this as the “unkindest cut” and demanded immediate action to fulfill the pledge. Abumisi argued that the government’s inaction has worsened the economic plight of pensioners, who have no other means of survival.
As part of its recommendations, the NUP called on the Federal and State Governments to use the new minimum wage of N70,000 as a basis to recalibrate pension payments.
“Our patience is overtaxed. The most unfortunate and the ‘unkindest cut’ of it all, and a case in point is the failure of the Federal Government to honour and fulfil its promise of the much-touted N25,000 palliatives to pensioners alongside the six (6) months wage award to both workers/pensioners which to the best of our knowledge had been overlooked and forgotten.
“In another development, and in line with the current economic situations we find ourselves, we wish to humbly suggest that the Federal and State Governments should consider using the new minimum wage of N70,000 as a basic or template to recompute pension emoluments.
“That is to say if the minimum wage for the workers is increased by 110%, the same rate of increment should be used to adjust pensions, as it is an incontrovertible fact that all categories of wage earners are in the same ship navigating stormy waters.
Therefore, given the present economic quagmire we find ourselves, it will be discriminatory to approve 110% for workers and give the pensioners less in the same economy.
“This argument can be logically buttressed by the simple fact that, if the idea for the minimum wage is to enable workers meet up with the ever-increasing cost of living and cushion the effects of hyperinflation, then the pensioners should get it too, as they are also affected by the vagaries of economic hardship.
“As we all know, the pensioners are no longer in service and do not have any other means of settling their ever pilling bills. It is therefore equitable that they should be given a living minimum pension.”
Moreso, the NUP leader urged President Tinubu to take urgent action to reverse the damaging effects of the fuel price hike.
He criticized the influence of international bodies such as the International Monetary Fund (IMF) on Nigeria’s economic policies, suggesting that their interests are self-serving.
Abumisi called on Tinubu to “listen to the voice of the people” and fix the economy before the situation spirals out of control. “A stitch in time saves nine,” he added.
