Retirement In Nigeria: The Need To Plan Adequately


At the thought of  retirement, the average Nigerian worker almost wants to shiver.

One who’s on the sidelines and probably doesn’t know the fate a Nigerian worker (who has spent a vital part of his life in the Nigerian workforce), faces on his life after active service likely wants to ask, why the shiver?

Let me answer, there’s almost a shiver because of;

Fear! Yes, fear!

Retirement in Nigeria is a nightmare which many dread. Till date, news of retirees who collapsed on the long queues of pension verification/payment have not left the pages of the Nigerian newspapers!

Notwithstanding, there’s been a recent revival of various pension and retirement schemes by both the Nigerian government and private sectors in an effort to bring hope to the Nigerian Retirees.

Nevertheless, I will on a good note, advise the Nigerian worker to have a personal plan aside, that will aid him in having a befitting life after active service.


The need to plan for retirement adequately;


  1. Uncertainties

The future comes with many uncertainties, and like I said in my previous article, it is only the planned future that takes care of itself. There is need for you to have a plan ahead both for the upcoming certain expenses and the uncertain ones.


  1. Medical emergencies

With increase on age comes increased health need. Medical expenses is likely to call for your attention in your post retirement period. Failure to plan enough for this could lead you to liquidate your assets in order to meet up with such expenses or face the encroaching pangs of the worse. Remember, medical health schemes does not always respond or atleast give you adequate care in Nigeria.

3. Inflation

The rate of inflation in this part of the world, Nigeria, worths the inadvisability of worrying about. But much more than worry, you need to plan. Let the possibilities of an inflation on the price of goods and services stir you to prepare for the near future.

4. Unreliable Pension/Retirement Schemes

Littered all over this part of the globe are various pension and retirement schemes, many of which are highly undependable (many are though). To be precise, the Nigerian government does not provide reliable benefits for retirees and people of age. So, if you’re looking up to them and don’t have a personal plan, you are really on your own.

5. African-Nigerian Expense Provoking Nuclear/Extended Family Structure

Gone are the days when the elderly had a family to give them support. The culture of the African family makes rooms for your family members from far and wide to approach you for their financial needs especially when they know you have been on the workforce.  You need not disappoint them or atleast show a little concern with the little you can offer ‘cos this is one major way family ties are built on this part of the globe.

Now is the time when you need to make savvy investment decisions and plan ahead during your working life and put your hard-earned money to work for you in the FUTURE.

RETIREMENT: How To Save Your Way To A Fulfilling Life After Work

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Bethel Chigozirim
Bethel Chigozirim is a passionate Writer, Editor, Speaker, Poet, Blogger and a bunch of many creative abilities. A trained Information Professional @Abia State University, a Public Speaker/Corporate Presenter and also a Certified Project Management Professional. She is a calculated risk taker with deep tech knowledge on investment, inspiration and lifestyle, with many online and offline publications to her credit. She is a Writer and Editor for Investment Watch; and most of her publications are geared towards inspiring people towards the right investment, Investment Opportunities, Personal Finance, Economy and Investment News. When she's not speaking, writing or exploring any of her creative abilities, you sure can find her reading, conversing with family and friends or finding a solution to a problem for the 13th Billionth time! You can follow/contact her by clicking any of the below: