Lagos Pays N16.6bn Pension Benefits to 5,886 Retirees

The Lagos State government recently announced the disbursement of N16.6 billion to 5,886 retirees as pension benefits over the past year.

This significant payment brings the total amount disbursed to retirees since May 2019 to N63.7 billion, benefiting 19,814 retirees across various sectors.

Commissioner for Establishments and Training, Afolabi Ayantayo, shared this information at a press conference in Alausa, Ikeja.

He highlighted Governor Babajide Sanwo-Olu’s commitment to addressing pension backlogs and ensuring that retirees receive their due benefits.

Specifically, the government paid N16.6 billion to 5,886 retirees from February 2023 to April 2024.

Ayantayo also brought to the fore the recent pension increment following a review implemented in January 2024.

This adjustment has positively impacted pensioners from the civil service, teaching service, and local government, ensuring they receive enhanced benefits reflective of the current economic climate.

Additionally, Ayantayo noted the success of the Learning Management System (LMS) introduced in 2020. This system has facilitated the training of over 60,000 officers, significantly contributing to a skilled and high-performing workforce in Lagos State.

The LMS initiative underscores the government’s dedication to continuous professional development and capacity building within the public service.

Governor Sanwo-Olu’s administration remains steadfast in its commitment to the welfare of retirees, recognizing their years of service and contributions to the development of Lagos State.

The prompt payment of pensions and the recent increments are part of broader efforts to ensure that retirees enjoy financial stability and dignity in retirement.

Beneficiaries of the pension disbursement have expressed gratitude for the government’s efforts in addressing their needs and alleviating financial burdens.

The ongoing commitment to timely and adequate pension payments reflects a broader strategy to enhance the overall welfare of Lagos State’s workforce, both active and retired.

The disbursement of N16.6 billion over the past year and the cumulative N63.7 billion since May 2019 demonstrate a proactive approach to managing pension obligations and supporting the well-being of former public servants.

About Funmilayo Ojo

Funmilayo Ojo is a Mass Communication Graduate. She is a prolific writer and a journalist who is gifted in Media works. She is also a business tycoon. She is currently the Regional Editor, of Southwest National Telescope Newspaper. She is happily married to Femi and they are blessed with lovely kids. Email: sweditor@nationaltelescope.com

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