Lagos State Governor, Mr. Babajide Sanwo-Olu has hinted that the state government is set to repeal the Public Office Holder (Payment of Pension Law 2007).
Enacted by the state’s House of Assembly in 2007, the controversial law provides for payment of pension and other entitlements to all former governors and their deputies who had served the state.
The law had become very controversial since it was enacted in 2007 prompting many people within and outside the state to render their condemnation, saying it was self-serving.
However, Sanwoolu hinted the decision of the state government to repeal the law on Tuesday while presenting the 2021 budget to the Lagos State House of Assembly, saying the bill (to repeal the law) would be sent to the Lagos Assembly for legislative approval.
According to the governor, the move will reduce the cost of governance, which he said was becoming prohibitive.
“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 erstwhile governors and their deputies.
According to the law, the governor is entitled to N30 million pension annually, a house in Lagos and Abuja, and six brand new cars every three years, medical allowances in any part of the world and other allowances.