Lagos pays over N70bn pension to 20,956 retirees since 2019′

The Lagos State Government on Wednesday said it had disbursed the sum of N70,198,214,414.11 accrued pension rights to 20,956 retirees across all categories since the assumption of the present administration in the last six years.

The state’s Head of Service, Bode Agoro, stated this at Alausa, Ikeja, during the 2025 annual ministerial briefing, commemorating the second year in the second term of Governor Babajide Sanwo-Olu.

He added that the government had paid over N15bn accrued pension arrears to 6,024 retirees of the state.

According to him, the pension arrears paid to retirees comprised those in the Local Government, State Universal Basic Education Board, Teaching Service Commission and the State Government Parastatals.

Agoro also noted that a total of N3,538,0119,631.25 was generated as revenue from the agency’s activities between May 2024 and March 2025.

He said, “From May 2019, when the current administration began, until December 2024, a cumulative sum of N70,198,214,414.11 had been paid to 20,956 retirees across all categories mentioned above. The settlement of these pension arrears is a monumental achievement in the Lagos State Public Service, reflecting Mr. Governor’s steadfast dedication to addressing the challenges faced by retirees in the state.”

According to Agoro, a key priority of the administration of Sanwo-Olu, as articulated in the THEMES+ Agenda, is to build a more inclusive and equitable society.

He stressed, “This includes addressing the needs of retirees and ensuring smooth service delivery in the pension sector.

“The governor presented over N3.1bn to 1,013 retirees as their accrued pension rights. During this event, Governor Sanwo-Olu also pledged to clear all outstanding pension backlogs and promised to implement a ‘PAY-AS-YOU-GO.’

“A significant milestone in this commitment was achieved during the 103rd Retirement Bond Certificate Presentation Ceremony in 2024, where the model for pension payments upon retirement was presented.

“Following up on this promise, a total of N4bn was disbursed to accrued benefit rights of 2,000 retirees in the 105th Retirement Bond, and 1,455 retirees during the 104th Retirement Bond Certificate Presentation Ceremony.

“Additionally, in May 2024, as part of the continued effort to eliminate pension backlogs, the governor released N4.5bn to clear the Certificate Presentation Ceremony. Mr. Governor has demonstrated an unwavering commitment to clearing pension arrears.”