President Tinubu Approves Cash Transfer Of ₦25,000 Every Month To Vulnerable Pensioners

President Bola Tinubu has sanctioned ₦25,000 as monthly payments to every vulnerable pensioner under the National Social Register of the Conditional Cash Transfer scheme.

The amount will be transferred to each beneficiary from November onward, revealed Betta Edu, the Minister of Humanitarian Affairs and Poverty Alleviation.

"The president mentioned very clearly that vulnerable pensioners should be immediately captured in the National Social Register and benefit from the Conditional Cash Transfer, as part of the national social safety net expansion," Minister Edu said Thursday, according to Punch. "This was made clear in his speech on Independence Day where he committed ₦25,000 for 15 million households for three months."

She asked the Nigeria Labour Congress (NLC) to collect data on vulnerable pensioners to ensure that they receive payments.

Joe Ajaero, president of the NLC, appreciated the initiative, but noted the government should get into the root cause of poverty to ensure the problem is solved in the long term, for pensioners and workers.

"Let's look at not only how to solve this problem, but the cause of it. If we continue to treat the effects of poverty, the problem will persist. Let us look at other social welfare interventions and job creation that will go a long way to support families," Ajaero added.

He also thanked the minister for visiting the labor house, making him the first member of the Federal Executive Council under Tinubu's administration to do so.

Godwin Abumisi, the president of Nigeria Union of Pensioners, also lauded the initiative, noting that earlier, pensioners used to receive as low as ₦5,000 every month.

"We trust that the minister of humanitarian affairs, who is entrusted with the responsibility of handling the payment would expedite action on the payment," Abumisi said, Daily Nigerian reported. "This is without further delay in order to assuage the pains and sufferings of the pensioners and the older persons."

The announcement came after Nigeria's two biggest workers' unions – NLC and Trade Union Congress (TUC) – agreed to suspend a planned nationwide strike for 30 days after signing a memorandum of understanding (MoU) with the government earlier this week.

The MoU will ensure that the government spends ₦315 billion in the next six months as allowance for federal workers. The strike was announced on Sept. 1 with a 21-day ultimatum to the government.