POLITICAL OFFICE HOLDERS PENSION AND ITS ECONOMIC BURDEN ON STATES IN NIGERIA
Danjuma Yusuf, PhD , Amos Jev, PhD , Mary Moses Yerima and Abraham Agan, PhD
Volume 12 Issue 1
Abstract
This study critically examines the effect of pension and entitlement of state governors and their deputies in some states in Nigeria. It is a known fact that the Nigerian economy is enmeshed in difficulty in terms of the production and reproduction of its material needs which has ultimately increased the level of unemployment, underemployment, non-payment of salaries of civil servants, huge arrears of pension of retirees, infrastructural deficit, poorly equipped security system and a heavy debt burden. In all these, some former state chief executives, particularly elected governors and their deputies have continued to receive huge amount of payout as pension allowances, which include; vehicle renewal and maintenance, housing in choice places and domestic aids. Using qualitative method and rent-seeking rational theory, the paper ascertained that, pensions and entitlements for political office holders are products of legislation from the State Houses of Assemblies that were not subjected to severe public hearing. Also, most beneficiaries of this acts usually get elected or appointed into another public office with full salaries and allowances but still enjoy the pension from their financially burdened states The paper concludes that, pensions for political office holders in an underdeveloped economy like Nigeria where federating units depend on federal allocation, are rather a burden on the common wealth of the people. The paper recommends that, considering the lean resources available to states vis a vis the prevailing economy challenges, this law should be abrogated by the concerned state houses of assembly. Keywords: Politics, Pensions, Economy, Elite and Development
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