The Lagos state Governor, Babajide Sanwo-Olu on Tuesday announced plans to abolish the Public Office Holder (Payment of Pension Law 2007) Act in the state.
The law provides for the payment of pension and other entitlements to former governors and their deputies.
Abolishment of the Payment of Pension Law 2007 will mean the stoppage of pension payment to Bola Tinubu, Babatunde Fashola, Akinwunmi Ambode and other individuals that served as governors and deputy governors in Lagos State.
Sanwo-Olu made the announcement while presenting the government’s budget proposal for the 2021 fiscal year to members of the Lagos State House of Assembly in Alausa, Ikeja.
The Governor said, “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.”
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.”
The 2021 budget tagged ‘Budget of rekindle hope’ is estimated at N1,155,022,413,005.82.
