The Federal Government has promised to pay the outstanding pension arrears as it released only about 25 per cent of the total amount budgeted for 2024.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made the commitment on Tuesday when retirees from Nigeria’s Contributory Pension Scheme staged a protest at the Federal Ministry of Finance in Abuja.
The retirees, angered by the delay in the payment of their pension arrears, blocked the main entrance of the ministry’s secretariat, demanding an audience with the minister.
Addressing the crowd, Edun disclosed that of the N88 billion budgeted for pension arrears in 2024, N22bn had already been disbursed.
He assured the retirees that the remaining funds would be paid by the end of the year, with disbursements set to commence next week.
