Udoma said this on Thursday, while fielding questions from members of the house of representatives.
He said the federal government had been making efforts to solve issues relating to the welfare of workers and retirees, revealing that a committee had been set up to address the issues.
The minister said the government would have to look for ways for creating funds to pay pension arrears.
“I ask for your understanding. In the 2017 budget, about half of our total projected revenues are for salaries and pensions but the resources are not there,” Udoma said.
“Most of these categories are up to date, however there have been issues with reconciliation of the numbers.
“The president is extremely concerned about this. He has directed us to get to the bottom of this as quickly as possible and a committee headed by the minister of finance should meet with all the relevant agencies and reconcile numbers.”
Kemi Adeosun, minister of finance, said though the problem of appropriation may not be sorted out in one year, the issue of pensions must be addressed.
“This is a welcome initiative. The issue of pensions isn’t a money issue, it’s a people issue. This is not a federal government problem. There is also a problem in the states as most struggle with pension and gratuities,” Adeosun said.
“The law says that the pension can’t be consolidated before the holder of an RSA can access retirement fund. They cannot access funds until government accrued pension rights and if appropriation is less than what is accrued, then we have a problem.
“The big issue is under appropriation. I’m not sure it can be sorted out in one year, but it must be addressed.” Click to signup for FREE news updates, latest information and hottest gists everyday
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