Sanwo-Olu Plans To Scrap Pension For Ex-Lagos Governors, Deputies


 Lagos State Governor, Babajide Sanwo-Olu, has announced plans to repeal the Public Office Holder (Payment of Pension Law 2007) in the state.


He made the announcement on Tuesday while presenting the government’s budget proposal for the 2021 fiscal year to members of the Lagos State House of Assembly in Alausa, Ikeja.


“Mr Speaker and honourable members of the House, in light of keeping the costs of governance low and to signal selflessness in public service, we will be sending a draft executive bill to the House imminently for the repeal of the Public Office Holder (Payment of Pension Law 2007), which provides for payment of pension and other entitlements to former Governors and their Deputies,” said Governor Sanwo-Olu who presented a budget of N1,155,022,413,005.82.


The governor added, “It is our firm belief that with dwindling revenues and the appurtenant 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.”


He explained that the state government was able to successfully restructure all existing internal loans from an interest rate of 20 per cent to 12 per cent, and in some cases single-digit interest rates.

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