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Editorial

No To Pension Fund Borrowing

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Being a country most notorious for borrowings, it does not come across as a consternation that Nigeria would ask to take a N2 trillion loan from the dedicated Pension Fund. Expectedly, the proposal has raised the ire of labour unions, workers, groups and critical stakeholders who have vehemently repudiated the idea. Despite that, the federal government seems intent on going ahead with the planned action.
The Vice President, Prof Yemi Osinbajo, confirmed the government’s position at the National Economic Council (NEC) meeting he presided lately where he revealed that plans had been perfected to take N2 trillion from the current N10 trillion domiciled in the pension till to finance the rejuvenation of decomposing infrastructure.
However, if the glitches that characterised the pension schemes prior to 2004 are anything to go by, then, this is a fatal move that must be halted. Our suspicion is deepened by the fact that at the moment, the government’s indebtedness to pensions in accrued rights, pension differentials, minimum pension guarantee, pension increase is well over N400 billion.
Government needs to be reminded that the Contributory Pension Scheme came into existence in 2004 to replace the moribund Defined Pension Scheme. It is fully funded by workers and employers and privately managed by Pension Fund Administrators. The monies are in the individual Retirement Savings Account (RSA). Therefore, it is significant that the consent of the workers is, at least, sought.
While infrastructure is a colossal asset around the world, and especially in most advanced countries in which private investors could invest Pension Fund and make high returns, here, infrastructure is yet to be an asset because Nigeria runs a dysfunctional economy, morbidly dependent on crude oil revenue. It is an economy that sustains enormous corruption and relies ponderously on the importation of goods and services that can effortlessly be generated here.
A recent Central Bank of Nigeria (CBN) report indicated that the Federal Government registered N4.62 trillion deficit in 2019. That year, its highest expenditure went on recurrent at N4.05 trillion out of a budget of N8.9 trillion. This is certainly an unworkable economic exemplification. A country which keeps allocating more resources to consumption cannot guarantee that the funds its government seeks to borrow will not be frittered on politicians and civil servants.
We firmly believe that the government does not have to borrow to erect or maintain infrastructure if it can cut on its garish lifestyle. For example, besides the prodigious sums expended on federal lawmakers, fuel subsidy alone cost the nation N2.95 trillion in 2018. With this, we find it hard to comprehend why the four refineries that gulped about $400 million between 2013 and 2015 cannot be auctioned to private investors who can run them efficiently.
Again, a report by the Debt Management Office (DMO) stated that as of September 2019, Nigeria had a debt profile of N26.21 trillion or $85.3 billion while debt servicing alone costs N2 trillion annually on average. This has more severely compromised the nation’s debt-to-GDP ratio. The obvious implication is that the current ratio cannot sustain  a serious borrowing any longer. So, what is the repayment plan for the N2 trillion when debt servicing guzzles so much?
In a surprisingly bold statement, the Federal Government claims it needs the N2 trillion to plough into infrastructural upswings like the rails, roads and power. These are desirable projects, no doubt, but it will be harmful to divert pension capital to them. In the first place, it doesn’t make sense to keep plunging public funds into power when in the privatisation exercise of November 2013, N1.7 trillion was disbursed to stabilise the sector without the anticipated result. The way it is, if the entire N2 trillion is assigned to the sector, no improvement may be recorded.
During the 2008 economic crisis, the Assets Management Corporation of Nigeria deployed N5 trillion to bail out some ailing firms. But because there is a consistent dearth of political will in the country, that large sum is yet to be recouped by various administrations till date. Why look elsewhere when this money is more than twice the N2 trillion being sought for? Furthermore, what happened to funds granted private organisations like the Aviation Fund and Textile Fund? Of course, they have gone down the drain and unaccounted for while the culprits walk unhindered.
It is a fact that pension depositories are used to construct infrastructure in developed countries, particularly those with a vast ratio of Pension Fund to GDP. However, with a Pension Fund to GDP ratio of 6.7 per cent, Nigeria cannot cut a slice of its pension reserves to invest in infrastructure without jeopardising workers’ fortune. To be suitable to do that, our infrastructure market must be developed and well regulated.
We express grave concern at the fate of Nigerian workers in the face of incessant borrowings by our governments without corresponding development. It is unthinkable to borrow from the Pension Fund when the citizens have not felt the impact of the mounting debts foisted on the country. What is paramount to contributors and other stakeholders alike is the safety of the Fund, which, unfortunately, government cannot guarantee. This action of government has the potential to threaten the scheme and erode contributors’ confidence.
Accordingly, we strongly apprise the federal government to think twice and desist from overstepping the Pension Reform Act 2004 to gratify its crave to build infrastructure. This was the issue with Argentina when its then President, Cristina Fernandez, manoeuvred the parliament and clutched the country’s $30 billion Pension Fund. Instantly, international investors’ confidence wiggled and the economy went into a free fall.
As the regulatory agency, the National Pension Commission (PenCom) should not subject pension revenue to undue hazard by granting political office holders access to the Fund. Like birds of passage, politicians have no stake in the pension money; as such, they have to be prevented by all means from intruding on the future of Nigerian workers. The government with their itchy fingers should maintain a distance from the pension proceeds to stave off Argentina’s ugly experience.

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Editorial

That Call to End Girl-Child Marriage

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Nigeria joined the world in commemorating the International Day of the Girl-Child on 11 March 2026, an observance dedicated to advancing girls’ rights and amplifying their voices. This year’s theme, “End Child Marriage and Invest in Girls’ Rights,” confronts a deep-rooted injustice and demands an end to sacrificing girls’ futures to prejudice and expediency.

The focus is child marriage, not as an unavoidable misfortune but as a preventable injustice. Though prevalent in many societies, the practice remains particularly troubling in parts of northern Nigeria, where it has become normalised. Reports of girls aged 10 to 13 being married off are disturbing. The controversy surrounding a Nigerian senator and former governor who married a 13-year-old girl further exposed the practice to global scrutiny, yet accountability at home appeared limited. When lawmakers disregard the law, society’s moral compass is compromised.

UNICEF’s statistics reveal the scale of the crisis. Globally, an estimated 650 million women and girls alive today were married before turning 18, while more than 12 million girls enter marriage annually before adulthood. In Nigeria, about 33 per cent of girls marry before 18 and 11 per cent before 15. The prevalence reportedly reaches 63 per cent in Jigawa and Zamfara States and 61 per cent in Sokoto and Katsina. These figures represent millions of childhoods interrupted and futures imperilled.

These statistics explain why the United Nations continues to campaign against child marriage and advocate investment in girls. The consequences are devastating. Girls whose bodies are not fully developed face increased risks of maternal death, obstetric fistula, sexually transmitted infections and psychological trauma. The economic cost is equally significant. A 2017 World Bank and International Centre for Research on Women Study estimated that ending child marriage could generate an additional $7.6 billion in earnings and productivity for Nigeria, as early marriage deprives girls of education, skills, and opportunities to contribute to national development.

Educating a woman benefits the entire society. As a mother, she often becomes her children’s first teacher and a vital influence on their character. An educated mother helps raise enlightened children, just as one candle can light many others without losing its flame. Denying women education undermines families and communities. To expect wisdom while deliberately withholding knowledge is to demand the impossible.

Several reasons are offered for marrying off young girls, including economic hardship, cultural practices and religious beliefs. In some households, daughters are treated as commodities, married early so that their bride price can finance their brothers’ education. While boys enter classrooms, their sisters are sent to matrimonial homes. This discriminatory practice is shortsighted, depriving the nation of half its human potential. A country cannot expect to run effectively after deliberately crippling one side of its capacity.

Beyond these justifications lies the entrenched belief that women ultimately belong in the kitchen, regardless of their education. This outdated notion is demonstrably false. Countries where women lead governments, businesses, research institutions and other sectors show what investment in female talent can achieve. Rwanda’s substantial female parliamentary representation is one example. Confining women to domestic roles limits not only their ambitions but also the nation’s progress.

A girl-child must not surrender her childhood to poverty or prejudice. Some traditions discourage women from attaining educational heights comparable to or greater than those of men, driven by the baseless fear that educated women will disrespect their husbands. Such thinking equates enlightenment with insubordination and empowerment with threat. This patriarchal mindset perpetuates inequality and keeps society trapped in backwardness.

Consequently, some parents consider educating their daughters a waste of resources, likening it to watering another man’s garden. This attitude is deeply misguided. Every girl deserves the opportunity to learn, grow and pursue her dreams. Early marriage mortgages her future, stifles her potential and traps her in circumstances she might otherwise overcome. No society can justify sacrificing a child’s prospects to outdated customs or immediate financial gain.

Ending child marriage must, therefore, go hand in hand with investing in girls’ education, safety and rights. Every girl should have the opportunity to realise her potential. This requires more than annual declarations, billboards, posters and seminars held in air-conditioned halls. Awareness without action is like a cloud without rain: promising, yet incapable of nourishing the ground.

The campaign must move beyond tokenism to practical intervention, particularly at the state level, where the problem is acute. Governments should formulate policies that protect girls and make education accessible. Scholarships, bursaries, conditional cash transfers, school feeding programmes and other incentives can help keep girls in school. When education is affordable and adequately supported, more girls can choose the classroom over the bridal chamber.

Civil society organisations, faith-based groups, and traditional institutions must intensify efforts to challenge child marriage and dismantle harmful beliefs disguised as religious or cultural obligations. Parents must also uphold their responsibility to protect and educate their daughters, despite economic pressures. A society that educates its girls invests in its future; one that marries them off in childhood mortgages that future at an incalculable cost.

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Editorial

Restructure the UN Power Arrangement

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When Vice-President Kashim Shettima rose in New York on behalf of President Bola Tinubu to address the general debate of the 81st session of the United Nations General Assembly, he carried a message that Africa has whispered, petitioned and pleaded for far too long: the world’s highest table of peace and security must make room for the continent. Nigeria’s demand is unambiguous: at least two permanent seats for Africa on the Security Council, with full rights, including the veto, alongside five non-permanent seats. It is a demand that deserves a fair hearing and a decisive response.
The President’s argument rests on a simple proposition: the architecture erected in 1945 cannot credibly govern the world of 2026. Reform of the United Nations, he insisted, must begin with the Security Council, where African representation remains grossly inadequate. Nigeria’s position, he reminded delegates, is anchored in the Ezulwini Consensus and the Sirte Declaration, which together articulate the African Union’s common position on Security Council reform. His most compelling point was also his simplest: Africa cannot continue to dominate the Council’s agenda while remaining absent from its permanent membership.
Consider how exclusive the club remains. Since the organisation’s founding, only five countries—the United States, the United Kingdom, France, Russia, which inherited the Soviet Union’s seat, and China—have held permanent membership, with the privilege of the veto. When the UN Charter entered into force, the United Nations had 51 member states; today, it has 193. The organisation’s membership has nearly quadrupled, yet its inner sanctum has admitted no new permanent member in eight decades. A body that refuses to evolve invites the charge that it remains a monument to the victors of a long-concluded war.
The imbalance becomes even more striking when viewed through the lens of geography. Europe has two permanent seats held by European states, while Asia has one held by China. The United States holds another, and Russia, whose territory spans Europe and Asia, occupies the fifth. Africa, home to 54 countries and more than a quarter of the General Assembly’s membership, has none. We are entitled to ask why the historical circumstances of 1945 should continue to determine who sits permanently at the head of the table in the third decade of the twenty-first century.
The irony is bitter. According to Security Council Report, an independent monitoring organisation, Africa accounts for a substantial share of the Council’s formal meetings, while many of its peacekeeping and Chapter VII enforcement mandates concern African states. The Council, in effect, helps determine the fate of African nations without a permanent African voice in its deliberations. To make decisions with far-reaching consequences for a continent while excluding it from permanent decision-making is unjust, outdated and corrosive of the very legitimacy the Council claims.
Nor does the existing arrangement for African participation offer much consolation. Three non-permanent seats are allocated to Africa, but their occupants serve two-year terms, have no veto and enjoy no guaranteed continuity. The so-called A3 must repeatedly learn the corridors of power just as their tenure expires, while the permanent five enjoy continuity, influence and the power to block decisions. How can the United Nations credibly claim to represent the world equitably when an entire continent is excluded from permanent membership? If it is truly a global institution, Africa must have a seat at the table as of right, not at the discretion of others.
Demography reinforces the case. Africa is home to about 1.5 billion people, roughly a fifth of humanity, and its share of the global population is projected to rise. Nigeria, the continent’s most populous country, has an estimated population of more than 230 million and a long record of contributing to peacekeeping and regional stabilisation. Africa’s permanent representatives must be chosen through a process that reflects the continent’s collective interests, and Nigeria, by virtue of its population, diplomatic standing and record of service, is well placed to be considered for one of the two seats. We, therefore, endorse the Federal Government’s position that Africa should have at least two permanent seats on the Security Council.
The vexed question of the veto deserves equal candour. Our considered view is that the veto should be abolished. Where four members agree, a single dissenting voice should not be allowed to frustrate the will of the majority. Time and again, the veto has paralysed the Council in the face of atrocities and aggression, turning deliberation into deadlock and undermining collective action.
The African Union’s formal position is pragmatic: if the veto is abolished for all, so be it; but for as long as it survives, Africa must not be saddled with second-class membership without the same privilege. This is a logical and defensible position, even if the complete abolition of the veto remains the more desirable goal.
The lopsided composition of the Council helps explain why the international community has struggled to make meaningful progress on some of the world’s gravest conflicts. A chamber in which a handful of powers pursue their strategic interests, with limited accountability to the regions most affected by its decisions, can hardly be described as democratic. Legitimacy is the currency of any international institution. When that legitimacy is squandered, confidence in the Council’s decisions weakens, and the cause of multilateralism suffers.
Several practical steps should follow. First, Abuja and the African Union must speak with one voice, agreeing on the criteria for selecting Africa’s representatives and establishing a credible process for identifying candidates for the two seats. This would prevent internal divisions from being exploited by opponents of reform. Second, Nigeria should build alliances beyond the continent, notably with Brazil, Germany, India and Japan, as well as Caribbean and Pacific states that share an interest in reforming the international system. Third, Nigeria must continue to strengthen its credentials through sustained contributions to peacekeeping, sound democratic governance, and timely financial contributions to international institutions.
The Security Council was fashioned for a world that has long since vanished. To pretend otherwise is to court irrelevance. Africa is asking not for charity but for representation commensurate with its population, its responsibilities and its potential. Reform is long overdue, and the international community can no longer afford to ignore the issue. President Tinubu has set out Nigeria’s case with clarity; it is now incumbent on the major powers to demonstrate that the United Nations is a community of nations, not a private club reserved for the victors of a bygone era. History will judge them by how seriously and swiftly they respond.
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Editorial

Time To Resolve The Pension Crisis In Rivers

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The prolonged suffering of Rivers State pensioners who have remained unpaid since retiring in July 2025 demands urgent executive and legislative intervention. The Nigeria Labour Congress (NLC) has rightly put its finger on the Contributory Pension Scheme (CPS) as the root cause of this crisis. The state government must now bite the bullet, dismantle this failed experiment, and bring the pensioners’ protracted ordeal to an end.

Since July 2025, the affected retirees have been left high and dry, their monthly pensions unpaid, and their dignity worn away. The NLC, under the leadership of Comrade Alex Agwuanwon, has also linked this deplorable situation to the political storm that engulfed the state, while expressing cautious optimism that the prevailing calm will pave the way for the payment of outstanding arrears. The Tide shares that optimism. However, optimism alone will not put food on the table for men and women who gave the best years of their lives to the service of the state.

The genesis of this crisis is not shrouded in mystery. The CPS was introduced in Rivers State in 2012 under the administration of former Governor Chibuike Rotimi Amaechi, pursuant to the Rivers State Pension Reform Law of that year. The scheme was ostensibly designed to bring the state into line with the federal Pension Reform Act of 2004, which had established a contributory framework for retirement benefits across the country. What was sold as a progressive reform has, in truth, become a millstone round the neck of the very workers it was meant to protect.

The CPS has failed in the state, and it has failed spectacularly. Its fundamental flaw lies in the government’s chronic inability, or unwillingness, to honour its counterpart funding obligations. The arrangement was meant to be a joint endeavour: employees contribute a portion of their salaries, and the employer matches it. But the state has consistently failed to keep its side of the bargain, leaving the pension fund anaemic and unable to meet its obligations. The result is as predictable as it is unconscionable. Retirees are left with only their own contributions to fall back on, a mere pittance that cannot see them through their twilight years.

The human cost of this institutional failure is staggering. Men and women who devoted decades to the civil service now find themselves cast adrift, their legitimate expectation of a secure retirement shattered. The psychological toll of such betrayal is beyond measure. A pension is not an act of charity. It is a contractual obligation, a deferred wage for services already rendered. To withhold it is to break a sacred trust. The authorities must understand that every delay in resolving this crisis costs lives, both in the literal sense as elderly retirees struggle to pay for healthcare and sustenance, and in the figurative sense as the social contract between the state and its workforce wears thinner with each passing month.

This development does not show the government in a favourable light. For a state to allow people who served it with dedication and integrity to languish in penury after retirement is morally indefensible. It sends a chilling message to serving civil servants that loyalty will be repaid with abandonment. This is precisely why organised labour must not rest on its oars. The NLC’s call for the termination of the CPS is not mere grandstanding. It is a necessary corrective. The scheme, as presently administered, is irredeemably broken and must be done away with.

The most damning indictment of the CPS since its inception is its one-sidedness. The government has failed to pay its counterpart funding, reducing the scheme to a hollow shell. Of what use is a contributory arrangement when only one party contributes? Retirees cannot be expected to live on the meagre sums they themselves set aside, sums which have been steadily eroded by inflation and administrative charges. Workers have been short-changed, left to carry the can while the government looked the other way. It is a quiet expropriation of their future.

The time to put this right is now in the interest of justice, equity, and fairness. The NLC should push harder for the swift implementation of its committee’s report to Governor Siminalayi Fubara. That report contains a sensible and pragmatic recommendation: that the CPS should apply only to those employed in the year it was enacted, thereby allowing existing civil servants to remain under the Defined Benefit Scheme (DBS) to which they were originally entitled. This is not a radical proposal. It is a reasonable compromise that recognises the legitimate expectations of long-serving workers and rights the wrongs of the past.

The authorities must act with dispatch. Governor Fubara should, without further ado, send a draft amendment of the Pension Law to the House of Assembly for passage into law. With such legislative intervention, those who retired from July 2025 to date would be returned to the DBS, receiving pensions calculated on their terminal salaries and years of service rather than the paltry sums available under the failed contributory arrangement. The NLC, for its part, should keep its foot on the pedal through dialogue, advocacy, and, if necessary, peaceful protest. Pensioners deserve not just fine words but concrete action.

Rivers State cannot lay claim to be progressive while its retirees are forced to go cap in hand for their rightful entitlements. The measure of any civilised society is how it treats its elderly. By that yardstick, the present situation is a blot on the state’s escutcheon. The government must clear the backlog of arrears, scrap the CPS for the category of workers it should never have applied to, and restore the DBS in full. Nothing less will suffice.

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