The Lagos State Government has disbursed over ₦15.1 billion in pension entitlements to 6,024 retirees across various sectors of the public service between May 2024 and April 2025.
This was revealed by the Lagos State Head of Service, Mr. Bode Agoro, during the 2025 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre in Alausa, Ikeja.
Describing the milestone as a “monumental achievement” under the state’s THEMES+ development agenda, Agoro said the Sanwo-Olu administration remains committed to fostering an inclusive society by prioritising the welfare of its senior citizens.
“These payments are not just figures—they reflect the administration’s deep commitment to honouring the years of service rendered by our retirees,” he said.
The Head of Service noted that the payments were made through several Retirement Bond Certificate Presentation Ceremonies in 2024. Specifically:
₦3.1 billion was disbursed to 1,013 retirees during the 103rd ceremony,
₦4 billion to 1,455 retirees in the 104th ceremony, and
₦4.5 billion to 2,000 retirees during the 105th edition.
At these events, Governor Babajide Sanwo-Olu reaffirmed his administration’s plan to adopt a “Pay-As-You-Go” pension model aimed at eliminating future backlogs.
Cumulatively, Agoro disclosed that from the start of the current administration in May 2019 to December 2024, a total of ₦70.2 billion has been paid to 20,956 retirees spanning the mainstream civil service, local governments, SUBEB, TESCOM, and other government parastatals.
He also highlighted the proactive efforts of the Lagos State Pension Commission (LASPEC), particularly in record updates and seamless transitions from active service to retirement. In October and December 2024, LASPEC conducted sensitisation programmes across all five divisions of the state to guide civil servants on documentation and pension fund alignment.
In a related development, Agoro revealed that the Staff Housing and Loans Board disbursed ₦1.56 billion in loans during the same period. Of this:
₦999.85 million went to 1,480 beneficiaries as housing loans, and
₦565.48 million was allocated for vehicle refurbishment to 1,669 staff across MDAs.
To enhance efficiency and sustainability, he announced the commencement of a pilot programme for digital loan processing—part of efforts to reduce paper use and align with global best practices.
“These achievements underscore Governor Sanwo-Olu’s vision of a civil service that is not only responsive and efficient but also compassionate and forward-looking,” Agoro stated.