Lagos State Government on Friday revealed that from February 2023 to April 2024, about N16.6b were paid to 5,886 retirees as pension.
The Commissioner for Establishment, Training and Pensions, Mr Afolabi Ayantayo, said this at the ongoing annual ministerial press briefing to mark the first year of the second term of Governor Babajide Sanwo-Olu administration.
Ayantayo stated: “Since May 2019, a total of N63,702,967,870.37 has been paid to 19,814 retirees across various sectors like the mainstream service, local government, and parastatals.”
He added that Governor Babajide Sanwo-Olu has made significant progress in tackling backlogs stating that from February 2023 to April 2024, his administration paid N16,631,759,666.02 to 5,886 retirees.
“Recent bond presentations further demonstrate this commitment: February 2024 (103rd Bond Ceremony), N3.1 billion to 1,013 retirees. March 2024 (104th Bond Ceremony): N4 billion to 1,455 retirees. May 2024 (105th Bond Ceremony): N4.5 billion has been approved as part of his promise to systematically eliminate the backlogs.
“Other major initiatives undertaken by the commission include: reduction in the number of non-compliant agencies by introducing parameters for grading them and escalating to the Parastatals Monitoring Office (PMO),” the commissioner stated.
