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The Nigerian government will begin paying pension arrears next week, Finance Minister Wale Edun confirmed on Tuesday, November 12.

FG to commence payment of pension backlog – Finance Minister Edun | Pulse Nigeria

Segun Adeyemi

<h2>The Nigerian government will begin paying pension arrears next week, Finance Minister Wale Edun confirmed on Tuesday, November 12. </h2>

Speaking at a peaceful rally held by the Nigeria Union of Pensioners Contributory Pension Scheme Sector (NUPCPS) in Abuja, Edun assured the pensioners that the long-awaited payments would commence under the current approved budget.

"We will start next week to pay everything that we can under the current budget as approved by the National Assembly," Edun stated.

He explained that delays in pension payments were caused by backlogs in pension contributions but assured that these issues have now been addressed.

READ ALSO: <a href="https://www.pulse.ng/news/local/niger-pension-board-refutes-allegations-of-gratuity-underpayment-to-retirees/m71x1rp">Niger Pension Board refutes allegations of gratuity underpayment to retirees</a>

Additionally, a special committee has been set up to ensure that the payments are made within this year.

The rally, which was held to highlight the struggles of pensioners, featured speeches by several leaders, including NUPCPS National Chairman Sylva Nwaiwu.

Nwaiwu expressed frustration with the lack of support for pensioners under the Contributory Pension Scheme, pointing out that despite the National Minimum Wage Act, pensioners have not received any adjustments to their benefits.

READ ALSO: <a href="https://www.pulse.ng/news/local/labour-opposes-fgs-plans-to-use-naira196trn-pension-fund-for-infrastructure/vz0jk4w">Labour opposes FG’s plans to use ₦19.6trn pension fund to build infrastructure</a>

"Our senior citizens are suffering... some of our members are bedridden and some have died in the struggle," Nwaiwu lamented.

He called on the government to take immediate action to ease the hardship faced by many pensioners who have gone without their rights for over 20 months.

Wale Edun, Nigeria's finance minister, during a Bloomberg Television interview on day two of the World Economic Forum (WEF) in Davos, Switzerland. [Getty Images/Bloomberg]

FG to commence payment of pension backlog – Finance Minister Edun

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