Lagos State Governor Babajide Sanwo-Olu triumphantly declared the eradication of all pension backlogs on Thursday. In a flashy statement on X.com, Sanwo-Olu announced that the state has finally coughed up ₦4.46 billion to satisfy 2,000 retirees, ending the lingering pension arrears once and for all.
What They Are saying
“Today, we effectively cleared all pension backlog in Lagos State with the payment of ₦4,461,659,536.82 to 2,000 retirees,” Sanwo-Olu boasted.
Remember back in February, when he doled out ₦3.1 billion to 1,013 retirees with the grand promise to settle all arrears and current pension liabilities? Well, lo and behold, that promise has miraculously been fulfilled today. What a hero!
Sanwo-Olu didn’t stop there. He proudly detailed that since he took office, his administration has generously deposited over ₦68 billion into the Retirement Savings Accounts of retirees across various government departments. If there’s one thing this administration knows how to do, it’s to throw money at a problem and call it a day.
He further touted the “Pay As You Go” pension model, promising that future retirees will receive their full benefits and gratuity immediately upon retirement. Because nothing says efficiency like waiting until the last minute to fix a broken system.
Why It Matters
But wait, there’s more! In an attempt to cover all bases, the state has also launched a Health Insurance Scheme tailored specifically for retirees. This scheme is supposed to provide access to a wide range of medical services, from routine check-ups to specialized treatments. Because retirees definitely haven’t been needing those services up until now.
Bottom Line
So, there you have it. Sanwo-Olu’s administration has finally tackled the pension backlog, just in time for… well, just in time to say they’ve done it. Let’s hope this trend of last-minute heroics becomes a thing of the past.
