Lagos pays N88bn to 25,656 retirees in seven years

The Lagos State Government has demonstrated a significant commitment to its retired workers, disbursing a total of N88.4 billion in pension bonds to 25,656 retirees since May 2019. This substantial financial commitment underscores the state's dedication to meeting its obligations to former public servants.

Governor Babajide Sanwo-Olu has further bolstered support for retirees and public servants by approving fresh pension increments and a N50,000 palliative. These measures aim to provide additional financial relief and acknowledge the contributions of those who have served the state.

Details of these disbursements were shared by the Head of Service, Bode Agoro, during a ministerial press briefing. Between May 2025 and April 2026 alone, the state allocated N8.04 billion to 4,060 retirees across various government agencies. This consistent payment schedule reflects a stable approach to pension management.

Looking ahead, retirees under the Defined Benefit Scheme are set to receive an enhanced monthly pension, with an additional N32,000 starting from May 2026. This increase aligns with the National Minimum Wage Amendment Act of 2024. Furthermore, retired permanent secretaries will benefit from an additional 10 percent quarterly pension payment, effective April 2026, providing them with increased financial security.

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Governance in Lagos State has been characterised by promises fulfilled, anchored through a vibrant and purposeful Public Service.