A GOOD LESSON THAT WORKERS IN NIGERIA MUST LEARN FROM THE PROBLEM OF SALARY EARNERS IN DETROIT.

When I was in higher college in the Mid-Eighties (1980's), one of the best manufacturing, industrialized and the richest city in the world that I learned from the World Geography class was Detroit,U.S.A
Today, Detroit is no longer poor but to be adjudged soon or otherwise as the most bankrupt city in U.S.A
What is bankruptcy ? This is a legal term that simply means a proceeding including a person, organization and firm that is unable to repay outstanding debt.
Until this moment, Detroit has the best pension management structure, yet the whole pension collapsed.
What lesson do we need to learn ?
The reason why Detroit in U.S.A was considered to be a paradise and the richest state in the time passed and of recent was that workers pension, including pension fund contributed by salary earners in public service was used to promote, finance and developed Detroit to enviable status in the world.
Today, all pension benefits of 23,500 workers are not to be found as a result of downward economic trend and yet to be established factors. Workers in Detroit are now in problem as to how to get back their pension, not to talk of interest on their savings.
If  23,500 workforce in Detroit ( U.S.A ) can face this kind of problem despite their pension management superiority over the years, then salary earners in Nigeria must learn not to put all their eggs in one basket.
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