The Lagos State Governor Babajide Sanwo-Olu, on Tuesday, announced his intention 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.
The move if approved by the lawmakers, except it is with the approval of his predecessors, may pitched him with the like of Asiwaju Bola Tinubu, Raji Fashola, Akinwunmi Ambode and others who are beneficiaries of the policy.
Governor Sanwo-Olu made this known while presenting the 2021 budget to the Lagos State House of Assembly, on Tuesday.
According to the governor, the abolition of pension for former governors and deputies will reduce the cost of governance.
Sanwo-Olu disclosed his administration’s move to keep the cost of governance low in the face of dwindling revenues and general inflation occasioned by multiple factors, announcing the repeal of the State’s Payment of Pension Law of 2007, which provides payment of pension and entitlements to former Governors and their deputies.
The Governor said he would be sending an Executive Bill to the Assembly for the repeal of the Pension Law, noting that public service would now be predicated on selflessness in the State.
He said: “In light of keeping the costs of governance low, we will be sending a draft executive bill to the House of Assembly imminently for the repeal of the Payment of Pension Law 2007(Public Office Holder), which provides for payment of pension and other entitlements to former Governors and their Deputies. It is our firm belief that with dwindling revenues and 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.”