By Lukman Olabiyi
The Lagos State government has paid over ₦15.1 billion in pension entitlements to 6,024 retirees across various arms of the public service between May 2024 and April 2025, effectively addressing a significant backlog in pension payments.
This was announced by the Lagos State Head of Service, Mr Bode Agoro, during the 2025 ministerial press briefing held on Wednesday, May 28, at Alausa, Ikeja.
Agoro described the milestone as a “monumental achievement” under the Sanwo-Olu administration’s THEMES+ Agenda, noting that the payment underscores the state government’s commitment to ensuring the welfare of its retirees and promoting an inclusive society.
A breakdown of the pension disbursements showed that N3.1 billion was paid to 1,013 retirees during the 103rd Retirement Bond Certificate Presentation Ceremony, N4 billion to 1,455 retirees during the 104th ceremony, and N4.5 billion to 2,000 retirees during the 105th edition.
The Head of Service also revealed that Governor Babajide Sanwo-Olu has pledged to implement a “Pay-As-You-Go” pension model to prevent the accumulation of future backlogs.
From the beginning of the Sanwo-Olu administration in May 2019 to December 2024, the state has paid a total of N70.2 billion in pension entitlements to 20,956 retirees across the main civil service, local governments, SUBEB, TESCOM, and other state parastatals.
Agoro also highlighted the efforts of the Lagos State Pension Commission (LASPEC), which has been instrumental in updating retirees’ records and facilitating a smooth transition from active service to retirement.
Sensitisation programmes were held across all five divisions of the state in October and December 2024 to educate public servants on documentation requirements and improve alignment with Pension Fund Administrators (PFAs).
In a related development, Agoro disclosed that the Staff Housing and Loans Board disbursed over N1.56 billion in loans within the same period.
This includes N999.85 million in housing loans to 1,480 public servants and N565.48 million in vehicle refurbishment loans to 1,669 beneficiaries from various Ministries, Departments, and Agencies (MDAs).
As part of its drive towards sustainability and efficiency, the board has also launched a pilot digital loan processing system, aimed at reducing paper use and improving turnaround time in line with global best practices.
Agoro reiterated that these strides reflect Governor Babajide Sanwo-Olu’s commitment to building a responsive, compassionate, and forward-thinking public service in Lagos State.