Lagos State is set to stop the payment of pensions to former governors and their deputies. “It is all to keep the cost of governance low”, Governor Babajide Sanwo-Olu said today at the House of Assembly where he unveiled the 2021 budget proposal of N1.155 trillion with the theme “Budget of Rekindling Hope”.
Sanwo-Olu disclosed his administration’s move to keep the cost of governance low in the face of dwindling revenues and general inflation occasioned by multiple factors, announcing the repeal of the State’s Payment of Pension Law of 2007, which provides payment of pension and entitlements to former Governors and their deputies.
The Governor said he would be sending an Executive Bill to the Assembly for the repeal of the Pension Law, noting that public service would now be predicated on selflessness in the State.
He said: “In light of keeping the costs of governance low, we will be sending a draft executive bill to the House of Assembly imminently for the repeal of the Payment of Pension Law 2007 (Public Office Holder), which provides for payment of pension and other entitlements to former Governors and their Deputies. It is our firm belief that with dwindling revenues and inflationary growth rates, that we need to come up with innovative ways of keeping the costs of governance at a minimum, while engendering a spirit of selflessness in public service.”
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