Lagos pays N15bn to 6,024 retirees, smashes pension backlog
By Adeola Ogunrinde
The Lagos State Government has paid over N15.1 billion in pension entitlements to 6,024 retirees across various arms of the public service between May 2024 and April 2025. This was disclosed on Wednesday by the Lagos State Head of Service, Mr. Bode Agoro, during the 2025 Ministerial Press Briefing held at the Bagauda Kaltho Press Centre, Alausa.
Agoro described the payment as a “monumental achievement” under the THEMES+ Agenda, highlighting the Governor’s commitment to fostering a fair and inclusive society by prioritising the welfare of pensioners. According to him, the accrued pension rights were disbursed through multiple Retirement Bond Certificate Presentation Ceremonies held in 2024.
Notably, he said N3.1 billion was paid to 1,013 retirees during the 103rd ceremony; N4 billion to 1,455 retirees during the 104th; and N4.5 billion to 2,000 retirees in the 105th edition. Agoro stated that these events also featured Governor Sanwo-Olu’s pledge to adopt a “Pay-As-You-Go” model to eliminate pension backlogs.
Cumulatively, from the beginning of the current administration in May 2019 to December 2024, Agoro disclosed that the state government had released N70.2 billion in pension payments to 20,956 retirees, spanning the main civil service, local governments, SUBEB, TESCOM, and other government parastatals.
Agoro also noted that the Lagos State Pension Commission (LASPEC) has been proactive in updating retirees’ records and ensuring a smooth transition from active service to retirement. He added that sensitisation programmes were held across all five divisions of the state in October and December 2024 to guide public servants on documentation requirements and ensure alignment with Pension Fund Administrators (PFAs).
In a related development, the HoS said the Staff Housing and Loans Board disbursed over N1.56 billion in loans during the same period. This includes N999.85 million in housing loans to 1,480 beneficiaries and N565.48 million for vehicle refurbishment loans to 1,669 beneficiaries from various Ministries, Departments, and Agencies (MDAs).
As part of the state’s sustainability push, Agoro announced that the board had commenced a pilot programme for digital loan processing, in line with global best practices aimed at reducing paper usage and enhancing operational efficiency.
The Head of Service reiterated that these achievements reflect Governor Sanwo-Olu’s resolve to build a public service that is not only responsive and efficient but also compassionate and forward-looking.
