What Sanwo-Olu Has Done With Lagos Pension Since 2019
Kehinde Adeleye
The Lagos State Government has paid N92 billion in accrued pension rights to more than 25,000 retirees since Governor Babajide Sanwo-Olu assumed office in May 2019.
The figure highlights one of the major pension interventions recorded under the Sanwo-Olu/Hamzat administration as the government continues efforts to clear outstanding obligations to retired public servants.
The Director-General of the Lagos State Pension Commission (LASPEC), Babalola Obilana, disclosed this in a statement on Monday, saying the payments were part of the administration’s commitment to settling pension obligations and improving the welfare of retirees.
Obilana said the administration made a landmark N5 billion payment to 1,963 retirees in July 2024 as part of efforts to clear the backlog of accrued rights under the Contributory Pension Scheme.
Accrued rights represent the gratuity and pension benefits owed to public servants who retire under the pension system.
According to LASPEC, Lagos State has paid a cumulative N168.2 billion to more than 48,000 retirees since 2007, with N92 billion of that amount paid under the current administration since 2019.
The pension commission also highlighted other reforms introduced under the Sanwo-Olu administration, including an increase in pension contribution rates in 2020 to 10 per cent for employers and 8 per cent for employees.
The commission said the adjustment was aimed at strengthening workers’ financial security and improving their preparedness for retirement.
The administration also introduced expedited gratuity payments for sick pensioners, while pension benefits continued to be paid into retirees’ Retirement Savings Accounts.
Beyond pension payments, LASPEC said it organises welfare programmes twice annually to support retirees and assist them in dealing with rising living costs.
The government has continued its pension payments in 2026, with more than N4 billion already paid to 1,862 retirees.
Another N1 billion was scheduled to be paid to about 700 retirees the following week, according to the LASPEC boss.
Obilana said the sustained payments demonstrate the Sanwo-Olu/Hamzat administration’s commitment to protecting the welfare and dignity of retired public servants.
He added that the clearance of the backlog under the Contributory Pension Scheme had further strengthened Lagos State’s position in pension administration.
