Nigeria, May 22 -- Across the African continent, a silent crisis is unfolding: the rise of retirement poverty as only a few possess retirement security. From Lagos to Lusaka, retirement is becoming not a time of rest but a significant economic concern for the elderly, marked by overdependence on children and increasing poverty. Despite decades of service, countless Africans reach old age without savings, without a reliable pension, and without the means to meet basic needs, raising serious concerns.

In Nigeria, for instance, as in many other places in Africa, rising living costs have exacerbated the retirement outlook since 2020, particularly with the impact of the COVID-19 pandemic. This trend of retirement poverty has become more prono...