Governor Babajide Sanwo-Olu of Lagos State 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.
He made the declaration while presenting the 2021 budget to the Lagos State House of Assembly.
Sanwo-Olu said the bill would be sent to the Lagos Assembly for legislative approval.
According to Sanwo-Olu, the abolition of pension for former governors and deputies will reduce the cost of governance.
He 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 Lagos House of Assembly had passed a pension bill for former governors and their deputies.
According to the law, the governor is entitled to N30 million pension annually, a house in Lagos and Abuja, six brand new cars every three years, medical allowances in any part of the world and other allowances.