The Nigeria Union of Pensioners (NUP) has voiced its frustration over the severe economic hardships facing pensioners and other vulnerable Nigerians, occasioned by the removal of fuel subsidies and incessant hike in fuel prices.
The union condemned the hikes in fuel prices and described them as crippling and detrimental to the well-being of the nation’s elderly citizens.
Addressing journalists in Abuja, NUP president Comrade Godwin Abumisi lamented that pensioners are groaning under the burden of these avoidable fuel price hikes, which he said have rendered their monthly pensions worthless.
According to the NUP, the ensuing hyperinflation has dramatically raised the cost of goods and services, making it nearly impossible for pensioners to survive on their meagre pensions.
Abumisi further lamented that while Nigerians have yet to recover from the previous price increases that sparked nationwide protests, the government has imposed even higher costs, exacerbating the suffering of the masses.
The NUP also expressed disappointment with the federal government’s failure to deliver on promises of a N25,000 palliative and a six-month wage award to both workers and pensioners.
The union called for immediate action and urged the government to review pension benefits in line with the new minimum wage of ₦70,000 and adjust pensions by the same 110% increase granted to workers.
The NUP appealed to President Bola Tinubu to reconsider the fuel subsidy removal and to focus on alleviating the suffering caused by the current economic crisis.
He said, “The Nigeria Union of Pensioners (NUP) wishes to unreservedly express their anger and frustrations at the pains unleashed on them and other vulnerable Nigerians over the incessant hike in fuel prices.
It is obvious that the Nigerian pensioners and other vulnerable groups in Nigeria are worse hit by the subsidy removal which resulted to hyperinflation, characterised by astronomical rise in the prices of goods and services which has negatively affected every strata of our lives.
“Our President, we ask that you act swiftly to fix the economy before the situation becomes irreparable,” Abumisi added.
