The Governor of Lagos State, Babajide Sanwo-Olu has announce plans to repeal the Public Office Holder (Payment of Pension Law 2007), which provides for payment of pension and other entitlements to former governors and their deputies.
Sanwo-Olu made this announcement on Tuesday while presenting the 2021 budget to the Lagos State House of Assembly.
“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,” Sanwo-Olu said.
Abolishment of the Payment of Pension Law 2007 will result to the stoppage of pension payment to Asiwaju Bola Tinubu, Babatunde Fashola, Akinwunmi Ambode and other individuals that served/serves as governors and deputy governors in Lagos State.
The Governor stated that the pension abolition for former governors and their deputies will reduce governance cost in the state.
“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,” Gov Babajide said.
He stated that the bill will be sent back to the Lagos State House of Assembly to formally repeal the law.
Sanwo-Olu presented the 2021 budget estimate of N1,155,022,413,005.82. It is tagged the “budget of rekindled hope”.