Abstract: Aging is a part of one�s life cycle. Demographically, aging population is a global phenomenon and Nigeria is not left untouched by this demographic reality. The contemporary society is differential towards the elderly due to gradual erosion of traditional values and rapid socio-economic changes. They not only suffer from health and social problems but also face the economic stringency. The findings of the present study highlights that most of them experience financial difficulty and income is the most important item of deprivation in their life after withdrawing from work  life.  They have no significant savings or properties with them. Two-thirds of them are dependent on their children for the fulfillment of their needs. This situation emotionally upset them but belief in religion helps in maintaining social integrity. Seeking support from family members is most preferred strategy to cope with income inadequacy. The state has not yet developed the mechanisms to respond to the emerging aging challenge.