FG To Establish Micro Pension Scheme For SMEs

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FG To Establish Micro Pension Scheme For SMEs
Gov Okezie Ikpeazu right Nyerere Anyim left during a courtesy visit at the Execcutive Chambers Government House, Umuahia

The President Muhammadu Buhari led federal government has concluded plans to establish micro pension scheme for Small and Medium Scale Enterprises (SME’s) in Aba, the commercial nerve of Abia State.

This was disclosed by the National Commissioner (Technical), representing Southeast at the Pension Commission; Dr. Nyerere Anyim during a visit to the Governor of Abia State, Dr. Okezie Ikpeazu at the Government House in Umuahia, the state capital.

Speaking at the Exco chambers of the Government House; where he , Anyim disclosed that part of their tour of the South East States aimed at creating awareness on the need to implement the Contributory Pension Scheme.

According to Anyim, the scheme if adopted by the state government would also boost its fight against Governor Okezie Ikpeazu says his administration will take every necessary step to key the State Workforce into the Contributory Pension Scheme of the Federal Government.

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The Governor stated this when he received in audience a delegation of the National Commissioner (Technical), representing South East & Directors of the National Pension Commission at Government House Umuahia.

He directed the State Head of Service and Commissioner for Finance to come up with the technical advice on the framework with which it would commence as soon as possible.

He said the full implementation of the Contributory Pension Scheme was delayed owing to some challenges but assured that his administration is determined to implement the scheme in the State.

Governor Ikpeazu, who stated that one of the greatest problems of the State has been wage bill management expressed the hope that the Contributory Pension Scheme would solve the pension problems as it would provide reliable data.

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He said with it, workers would look forward to retiring happily.

He appreciated the proposal of the Pension Commission (PENCOM) to establish a micro pension scheme for small & medium scale enterprise, saying that it would stabilize the economy and give hope to the Abia artisans.

He promised to lead out in serious advocacy about the micro pension scheme, adding that it would assist the artisans a great deal.

The Governor commended Dr. Nyerere Anyim for the good work done in the scheme and said that Abia is proud of him.

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Also speaking, a member of the delegation and a Director at PENCOM, Mr Oscar Onyema also highlighted the advantages acruable to the State if it joins the Scheme.

Mr Onyema, who is the Chief Executive Officer of the Nigeria Stock Exchange told the Governor that the scheme can give the state the platform to use the instrumentality of the issuance of bonds to raise funds for development from the capital market.


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The Honorable Commissioner for Finance, Dr Aham Ukoh, his counterpart in the Ministry of Health, Dr Joe Osuji, Chief of Staff to the Governor, Professor ACB Agbazuere, State Head of Service, Sir Onyi Wamah and thr Permanent Secretary, Bureau of Establishment and Pensions, Mrs Chioma Onyegbu witnessed the event.


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