Lagos State Continues Commitment to Retiree Welfare with Latest Payout
Lagos, Nigeria – The Lagos State Government has disbursed a total of ₦1,006,057,173.45 in accrued pension rights to 463 retirees from its civil service. The significant payout was made during the 111th Retirement Bond Certificate Presentation Ceremony, held on Monday, October 20, 2025, at the NECA Auditorium, Alausa, Ikeja. This event reaffirms the state's consistent efforts in fulfilling its pension obligations to former public sector employees.
Details of the Disbursement
The substantial sum of over ₦1 billion was credited into the Retirement Savings Accounts of retirees who served across various state entities. These include individuals from the mainstream civil service, Local Governments, Local Council Development Areas (LCDAs), the State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM), and other state parastatals. The funds represent benefits accrued to these retirees for their service years prior to the commencement of the Contributory Pension Scheme (CPS) in 2007.
Official Statements Highlight Government's Dedication
Speaking at the ceremony, the Head of Service, Mr. Bode Agoro, who was represented by the Director, Post Service, Public Service Office, Mrs. Bukola Durodola, emphasized the administration's unwavering commitment to the welfare of both serving and retired workers. Mr. Agoro stated that 'Under Governor Babajide Sanwo-Olu's leadership, Lagos has remained consistent in ensuring the prompt presentation of bond certificates to retirees, leading to the speedy payment of their retirement benefits.' He added that this gesture reflects the 'huge premium the governor placed on the welfare and well-being of our senior citizens.'
The Director-General of the Lagos State Pension Commission (LASPEC), Mr. Babalola Obilana, also lauded Governor Sanwo-Olu's dedication. He noted that despite economic challenges, Lagos remains one of the few states in Nigeria that consistently fulfills its pension obligations, attributing this success to 'prudent financial management, fiscal discipline, and the strong political will of the present administration.' Mr. Obilana further advised the beneficiaries to utilize their entitlements judiciously.
Lagos as a Model in Pension Administration
The Lagos State Pension Commission (LASPEC) has been commended for its professionalism and efficiency in ensuring timely documentation and payment of benefits. Mr. Obilana highlighted that Governor Sanwo-Olu's commitment to regular pension payments has positioned Lagos as a 'model of effective pension administration in Nigeria.' LASPEC has also implemented continuous reforms and process improvements to ensure transparency, accountability, and efficiency in pension administration.
5 Comments
Ongania
While the disbursement of N1 billion is a positive step towards fulfilling past obligations, the article doesn't detail the average waiting period for these payments. Consistent, timely payouts for all, not just large lump sums, should be the ultimate goal.
Fuerza
Only 463 retirees? What about the thousands still waiting?
Manolo Noriega
It's good to see these retirees finally getting their due, as many states struggle with pension arrears. However, it's crucial to ensure this promptness extends to all eligible individuals and not just a select few.
Fuerza
Finally, a government that prioritizes its former workers. Well done, Lagos!
Manolo Noriega
Lagos State deserves credit for this significant payout, especially given the economic climate. Yet, there's always room for improvement in transparency regarding the entire pension administration process to build more public trust.