…As inflation bites harder.
By Dada Ahmed in Lokoja.
Retirees under the Contributory Pension Scheme (CPS) residing in Lokoja, Kogi State, say they have shifted from celebrating the recent approval of ₦757 billion by the Nigerian Senate to fervently praying for the timely release and disbursement of the funds.
The retirees, who spoke with our correspondent in separate interviews in Lokoja on Monday,explained that their renewed spiritual commitment stems from the biting effects of inflation, insufficient monthly pensions, and mounting family responsibilities,all compounding their daily economic struggles.
Mr. Nicholas Audu, a federal retiree who left service seven years ago under the CPS, described the Senate’s approval as a significant relief.
“My heart leapt with joy when I heard that the Senate had approved President Bola Ahmed Tinubu’s ₦757 billion request to offset outstanding allowances, including those owed to retirees like me.
But beyond the initial excitement, I believe we must support this with consistent prayers, for obvious reasons,” he said.
Another retiree, who preferred to remain anonymous, stressed the need for improved implementation.
“It is well known that while many policies in this country are thoughtfully designed, problems often emerge at the implementation stage. That’s why I truly hope that, this time, the cycle will be broken and the process will be smooth,” the retiree remarked.
Other retirees who shared similar sentiments appealed to the National Pension Commission (PENCOM) and other agencies involved in the disbursement to expedite action so that beneficiaries can feel the impact of the government’s intervention.
Retirees, who spoke with our correspondent, however, expressed gratitude to President Tinubu, the Senate, and their union for heeding their call and facilitating the approval of the ₦757 billion bond for the payment of their allowances.
According to sources close to the implementation process, the payment is expected to cover outstanding entitlements from 2007 to 2023.
