What do you believe is the single most important factor driving up the cost of living in Nigeria?

The acting Director-General of the National Pension Commission, Omolola Oloworaran, disclosed this at a workshop organised by the commission to kick start the 2024 online enrolment applications for pension desk officers of Federal government treasury-funded MDAs on Monday in Abuja.

This workshop signifies the start of the final preparations for the 2024 Online Enrolment Exercise, aimed at prospective retirees for 2025.

Nigeria currently has 7,348,028 or 10.58 per cent of the total working population registered under the National Pension Scheme. In the second quarter of 2024, the commission said it paid N1.1tn to 129,435 life annuity applicants, highlighting increases in pension payouts.

Speaking in her address, the acting DG stated that this exercise aims to collect accurate data to assess the Accrued Pension Rights of prospective retirees, enabling the Federal Government to make the necessary budgetary provisions.

She added that the commission has made significant progress by automating the enrollment process, introducing an Online Enrolment Application that facilitates seamless registration, verification, and enrollment of retirees.

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