As workers are impacted by inadequate finances, govt pension contribution falls to a 16-year low.

Civil servants are already feeling the effects of the challenges the federal government and states are facing.

Nigerian workers, both public and private, received N191.44 billion in pension contributions in the first quarter of 2022, according to figures obtained from the National Pension Commission (PenCom) on Friday.

Out of this total, the public sector accounted for N90.33 billion or 47.18%, while the private sector contributed N101.11 billion or 52.82%

The amount given by the states and the federal government in the first quarter of 2022 is the least since it was N80.63 billion in 2007.

Federal and state governments each contributed $116.13 billion in Q1 2021.

PenCom reported that the total amount of pension contributions made since the program’s start until the end of the first quarter of 2022 was N7.77 trillion, up from N7.58 trillion as of the end of Q4:2021.

The aggregate pension contributions of the public sector increased from N3.92 trillion to N4.02 trillion as at the end of Q1:2022.

Similarly, the aggregate pension contributions of the private sector increased from N3.66 trillion to N3.76 trillion as at Q1:2022.