• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Fuel subsidy: Pensioners demand inclusion in proposed palliatives 

William Ukpe by William Ukpe
July 25, 2023
in Business News, Sectors
A call for pension benefit guarantee in Nigeria
Share on FacebookShare on TwitterShare on Linkedin

Retired workers in Nigeria under the umbrella of the Nigeria Union of Pensioners (NUP) urged the Federal Government to include its members in the proposed palliatives to cushion the economic hardship of the removal of fuel subsidy. 

This was disclosed by its President Mr Godwin Abumisi, on Monday in Abuja. 

The association noted that the inclusion in the proposed palliatives was imperative due to the vulnerability of its members. 

RelatedStories

Federal Government offers free CNG conversion for vehicles at six Lagos locations

Promise without presence: Why CNG adoption remains elusive in Nigeria 

May 7, 2025
FG, States and LGAs share N1.35 trillion as FAAC allocation in June

Fuel subsidy removal triples FAAC allocation to N3.2 trillion between 2023 and 2024 – Presidency 

January 17, 2025

Removal 

The NUP President, Mr Godwin Abumisi commended the government for the removal of subsidy, adding that the inclusion in the proposed palliatives was imperative due to the vulnerability of its members. 

They added the Tinubu administration should not forget them as it unfolds plans to cushion the economic hardship that the removal of the fuel subsidy has brought upon the people of Nigeria, saying: 

  • “The NUP wishes to categorically state and remind the Federal Government that pensioners must be included in the planned palliatives package, being one of the low-income earners in the country. 
  • “There is no gainsaying that the removal of the fuel subsidy has further impoverished and pauperised the vulnerable Nigeria pensioners like other vulnerable groups of persons in our society who are always struggling and battling for survival. 
  • “We believe that if the proposed palliatives are religiously implemented to the letter on record time devoid of the usual bureaucratic bottlenecks, it will go a long way to calm down frayed nerves of the obvious angry Nigerians,” he said. 

Cash Transfer 

The NUP also noted that for FG to achieve its objective of the cash transfer to the poor, it must consider unions/associations would have the records/statistics (database) of their members resident in both urban and rural areas, he said: 

  • “The leaders of the unions/bodies who are very visible could be easily held responsible and accountable in the event of any infractions or shortchanging of their members in accessing such funds. 
  • “Pensioners across the board must also be considered for the proposed six months tax-free payment to public servants for six months as well as the payment of all outstanding liabilities to public/civil servants. 

Liabilities 

He revealed that the Defined Benefit Scheme (DBS) pensioners under PTAD were being owed various pension liabilities, including the 2015 pension increment which the union has been consistently pressing for its payment but to no avail. 

The NUP president also noted that its members under the Contributory (Mandatory) Pension Scheme have been short-changed 15% of the 2007 pension review, citing that 33% of the 2010 pension review was also short-changed, while there was an omission of the 2015 pension review and the consequential adjustment of 2019. 

  • “We believe whole-heartedly that if the above pension reviews are paid to our members as part of the proposed palliatives, it will go a long way to ameliorate the living conditions of our members,”  
  • “This practice must be stopped as pensioners are workers in retirement, who are also entitled to decent living conditions in line with the popular saying that “what is good for the goose is also good for the gander”. 
  • “We also call on the leadership of the Nigeria Labour Congress to always carry NUP along in the negotiation for any salary for workers in the country. 

 


Follow us for Breaking News and Market Intelligence.
Tags: Fuel SubsidyNUPPensioners
William Ukpe

William Ukpe

For further inquiries about this article contact: Email: william.ukpe@nairametrics.com or outreach@nairametrics.com. Twitter: @_sirwilliam_ @nairametrics.

Related Posts

Federal Government offers free CNG conversion for vehicles at six Lagos locations
Energy

Promise without presence: Why CNG adoption remains elusive in Nigeria 

May 7, 2025
FG, States and LGAs share N1.35 trillion as FAAC allocation in June
Economy

Fuel subsidy removal triples FAAC allocation to N3.2 trillion between 2023 and 2024 – Presidency 

January 17, 2025
Hope Uzodinma, Imo state
Economy

Fuel subsidy removal ‘a direct blessing’ to states – Gov. Uzodimma 

January 14, 2025
No regret removing fuel subsidy, says President Tinubu
Energy

No regret removing fuel subsidy, says President Tinubu

December 23, 2024
Petrol price, NNPCL, PMS
Energy

Subsidy removal: Current petrol price now above market rate – NLC  

November 11, 2024
World Investment Report: Global foreign direct investment decrease to $1.3 trillion in 2023, Africa’s share just $53 billion
Economy

Nigeria attracts $55.5 billion in foreign investment since 2019: See the top 5 countries where it came from 

October 16, 2024
Next Post
OPEC, crude oil production

Energy demand set to increase by 23% in 2045 - OPEC  

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Zenth Bank
Emple
first bank
Zenth Bank








DUNS

Recent News

  • From Coal to Code: Leo Stan Ekeh Rallies Young Innovators at Enugu Tech Festival 
  • U.S., Iran, deal weighs on Nigerian Crude, Obodo crude makes export debut
  • JAMB faces backlash over 2025 UTME errors as Nigerians react

Follow us on social media:

Recent News

From Coal to Code: Leo Stan Ekeh Rallies Young Innovators at Enugu Tech Festival 

From Coal to Code: Leo Stan Ekeh Rallies Young Innovators at Enugu Tech Festival 

May 15, 2025
Latest crude oil price drop threatens Nigeria’s revenue and naira stability 

U.S., Iran, deal weighs on Nigerian Crude, Obodo crude makes export debut

May 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics