Abuja — House of Representatives commitee on Pension Matters and authorities of 29 federal universities yesterday protested allocation of N8.5billion for payment of pensions to retirees of universities.

Chairman, House of Representatives' Committee on Pension Matters, Mr Razak Adewusi, who said this during an interaction with representatives of the universities, said the amount was grossly inadequate, with University of Ibadan alone requiring the sum of N5.1 billion to meet its pension obligations in 2009.

Deputy Vice Chancellor(Administration), University of Ibadan, Professor Elijah Bamgboye, said this while speaking on the state of pensions in the premier university.

Bamgboye said the University would require N5.1billion if it is to pay its pensioners according to the new rates approved by the Federal Government, but would need about N2billion, if it is to apply the old rates.

In seperate presentations, representatives of the University of Maduguri, Bayero University, Kano, University of Jos, and Michaeal Okpara University of Agriculture, Umudike, had submitted proposals on their requirement to settle arrears of pensions and in the coming year.

Other universities that made presentations at the interaction included, Ahmadu Bello University, Zaria, University of Illorin, Federal University of Technology, (FUTEC), Akure, Federal University of Technology, Minna, University of Calabar, Federal University of Agriculture, Makurdi, and Federal University of Agriculture, Abeokuta, amongst others.