Sanwo-Olu seeks PenCom’s support on pension bonds, workers’ welfare
Lagos State Governor, Babajide Sanwo-Olu, has called on the National Pension Commission (PenCom) to continue supporting the state’s efforts in issuing pension bonds and enhancing the welfare of its workers and retirees.
Sanwo-Olu made the appeal on Wednesday during a courtesy visit by the Director-General of PenCom, Omolola Oloworaran, to the Lagos House in Ikeja.
He assured the commission that Lagos remains committed to responsible financial practices, adding that the state has no outstanding pension liabilities. “All our fundraising efforts are geared toward projects with life-changing impacts, and we are always mindful of how we raise and utilize those funds,” the governor said.
He urged PenCom to consider Lagos as a model state and provide prompt support for its bond requests, noting that the administration is intentional about delivering long-term value to its citizens through innovative funding strategies.
In her remarks, Oloworaran commended Sanwo-Olu for the strides made under his leadership, especially in mass transit, healthcare, education, and youth empowerment. She described his governance as impactful and responsive to citizens’ needs.
Presenting the results of PenCom’s Routine Pension Examination conducted in October 2024, she revealed that Lagos earned an ‘A’ rating, a reflection of its performance in managing the Contributory Pension Scheme.
Oloworaran noted that nearly 100 percent of Lagos State employees are now enrolled in the pension scheme, calling it a remarkable achievement and a benchmark for other states.
She thanked the governor for his continued commitment to pension reforms and praised Lagos for setting high standards in ensuring the financial security of its workforce.
