BOOK ON RETIREMENT MANAGEMENT IN NIGERIA FOR LAUNCH IN LAGOS AND ABUJA


Although the somewhat national embarrassment caused by Retirees and Pensioners camping on street ways in Lagos and Abuja, and protesting to be paid their pension seem to have abated, the reality is that a well thought out strategy should be devised to solve the recurrent problem once and for all. Perhaps, this informed the writing of the book ‘RETIREMENT IN NIGERIA: A MANAGEMENT APPROACH. Authored by a foremost pension expert; Chief Felix Ohiri Amadi, the book, a first of its kind, is as comprehensive as it is explanatory. It is a veritable compass with which to successfully navigate through the storming water of non-payment of pension.

The book has 30 chapters each of which is carefully arranged to fall into five parts with each focusing on a key aspect of the retirement horizon. In a foreword to the book, Alhaji Bamanga Tukur, a foremost public servant cum politician noted that ‘Retirement in Nigeria: A Management Approach’ has come to fill a wallowing literature gap and upscale capacity building efforts for retirement planning and management. According to him, the book positions retirement as a process that is amenable to general management principles even as he would not hesitate to recommend a comprehensive study of the process.

Tukur, a one-time Chief Executive Officer of the Nigerian Ports Authority also in the foreword, has pointed out three main areas as to why retirement in Nigeria has what he called a morbid image. He noted strongly that pension administration may not be serving very appropriately its real statutory social and economic purpose which is to provide pension to a retiring employee properly and timely.

Though, he contended that, this is without prejudice to the “laudable achievements of the National Pension Commission which in 2019 held assets in excess of N9.5 trillion,” yet he argued that until pension managers see retired persons as the real essence and value of their efforts, retirement will remain a nightmare.

Tukur posited that another reason for the morbid image of retirement in Nigeria is that government and other employers of labour focus almost exclusively on pension funding and the need of a prospective retiree when actually his training for the impending difficult future should take pre-eminence. This, according to him, makes the retirees in Nigeria to suffer more on account of lack of knowledge on how to manage life in retirement even when pensions are paid.

His third reason for the so called morbid image of retirement in Nigeria which ostensibly gives some worry, is the insensitivity of some state governors and members of their legislative houses who justify fabulous statutory life pensions for themselves even where public service retirees who served for 35 years are owed several months of pension arrears.

The book has attracted several comments from both the academic and non-academic quarters with individual conclusions that have a meeting point in the general belief that the book is a masterly contribution to any existing literature on retirement-related matters in Nigeria’s employment space whether public or private.

To the Catholic Archbishop of Lagos, Most Reverend (Dr.) Alfred Adewale Martins the book: “Coming from a brilliant hands-on professional, the book has brought to the fore, critical issues which have remained outside our social policy framework. Let the legislators and policy makers know it is time to begin to consider the welfare of the elderly as is obtainable in all civilized societies.

Former Dean, Faculty of Management Sciences at the University of Lagos, Professor Rasheed Kola Ojikutu described the book as well written, very comprehensive and highly informative text which in context and structure, will benefit the legions of retirees in Nigeria in particular and the world in general.” He added that the book is a compendium for students offering a course in pension and social insurance in the tertiary institutions in Nigeria.

The National President, Coalition of Societies for the Rights of Older Pensions in Nigeria, Senator(Dr.) Eze Ajoku has this to say: “I totally agree with Dr. Bamanga Tukur that the book should be a compendium for leaders, planners, learners, researchers and most importantly lawmakers whose efforts today guide our future.”

Versatile scholar and Vice Chancellor, National Open University of Nigeria (NOUN) Prof.Abdalla Uba Adamu avowed “I have perused the book and so, consider it an important document for individuals, groups and corporate organizations. It is a must read for all stakeholders as it affects retirement and the management approach thereto.”A political economist and former Minister of Education, Alhaji Dauda Birmah noted that “much as it is important for everyone to understand and follow the management process advocated in the book, the process must also enjoy the support of economic growth and social investments necessary to create employment and alleviate pervasive poverty in the land.

Mrs. Adegoke Uwakwe,Executive Secretary of the Certified Pension Institute of Nigeria, stated that the book is a text for human capital development in the chosen discipline and a commendable contribution to professional excellence, even as it is a ringtone for advocacy to positively change the contemporary image of retirement life in Africa with Nigeria’s National Pension Commission actively at the forefront.
The book ‘RETIREMENT IN NIGERIA: A MANAGEMENT APPROACHwill be unveiled on November 5, 2020 at the Muson Centre, Onikan Lagos while its formal public presentation will hold on November 19, 2020 at the Transcorp Hilton Hotel, Abuja.

•Picture above shows: L – R: Mr. Peter Jones Ailuorio, Chief Felix Amadi (the Author) and Mr. Samuel Diala at the pre-launch media briefing on the book: ‘RETIREMENT IN NIGERIA: A MANAGEMENT APPROACH’ at CCL Conference Room, GRA Ikeja, Lagos.

 
 
 
 

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