Ibrahim Babagana, a former director of the Bureau of Public Enterprise (BPE), has called for an upward review of Nigerian retirees’ pensions.
Mr Babagana made the call in an interview in Abuja on Wednesday following organised labour’s demand for a living/minimum wage for Nigerian workers.
He said that such an upward review would enable the retirees to face the present economic challenges in the country.
The organised labour demands N250,000, while the government negotiating team proposes N62,000.
Mr Babagana said there was a need to accommodate the retirees in the organised labour demand for an increase in the workers’ salary, considering the level of hardship.
According to him, there should also be a retirement fund for retirees to access, enabling them to establish small and medium enterprises (SMEs).
Mr Babagana said, “During my time, they started preparing us for retirement a year before time, but I am postulating that we should prepare people for retirement five years before they exit.
“This will ensure that the person does not become too close to his or her seat, but we should not create a scenario where he is psychologically thinking of exiting and going out. Then, he will not give his best.
“When you prepare the ground for retirement, it should be done in collaboration with the private sector; it is a combination of public and private sector.”
Mr Babagana urged the government to show compassion for workers and retirees, as current earnings were no longer sustainable in present-day Nigeria.
