Fuel subsidy removal: Govs pledge to settle pension obligations

Ahead of the planned removal of fuel subsidy in 2022, the 36 Nigerian governors have pledged to settle all outstanding pension obligations, through Contributory Pension Scheme (CPS).

The governors under the aegis of Nigeria Governors’ Forum (NGF) disclosed this in a communique issued in Abuja and signed by its Chairman, Governor Kayode Fayemi of Ekiti at the end of a teleconference.

The payment of outstanding pension, they said, would be included as part of the social compact with citizens for the removal of fuel subsidies.

“With respect to the required legal and institutional changes required to facilitate a successful CPS transition in all states, State Commissioners for Finance will be mandated to ensure that states meet the guidelines for the implementation of CPS by state governments.

“This include the enactment of a pension law, the establishment of a pension board and the adoption of a transition framework for each state,” the governors stated

The communique added that members received a presentation on the National Social Register and the Rapid Response Register as critical tools for rolling out cash transfer programme.

It stated that the presentation was from the National Coordinator of the National Social Safety Nets Coordinating Office, Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development, Mr. Iorwa Apera.

“Forum members also listened to the World Bank Country Director, Shubham Chaudhuri

“On the rollout of a World Bank financed $800 million facility designed to fund a large-Scale conditional cash transfer (CCT) programme in the country, forum resolved that each state governor will establish and Chair a Steering Committee to oversee the Conditional Cash Transfer (CCT) initiative to ensure that the programme aligns with the vision of the State Government.