BREAKING: Sanwo-Olu Moves To Abolish Pension For Tinubu, former governors and their deputies

Governor Babajide Sanwo-Olu, has announced his intention to repeal the Public Office Holder (Payment of Pension Law 2007), that provides for payment of pension and other entitlements to former governors and their deputies.

The governor disclosed this on Tuesday while presenting the 2021 budget to the Lagos State House of Assembly.

He stated, “Mr. Speaker and honourable members of the House, in light of keeping the costs of governance low and to signal selflessness in public service, we will be sending a draft executive bill to the House imminently for the repeal of the Public Office Holder (Payment of Pension Law 2007), which provides for payment of pension and other entitlements to former governors and their deputies.”

Some former governors in the state include Bola Ahmed Tinubu, Babatunde Fashola, and Akinwunmi Ambode.

The Pensions Law of 2007 provides one of the most lucrative pensions in the federation.

According to the law, former governors of the state are entitled to a house each in any location of their choice in Lagos and Abuja.

Section 2 of the law states that “One residential house each for the governor and the deputy governor at any location of their choice in Lagos State and one residential house in the Federal Capital Territory for the governor on two consecutive terms.”

The law additionally provides for six new cars every three years, 100 percent of the basic salary of the serving governor (N7.7m every year), as well as free health care for himself and members of his family.

The law also says former governors will be entitled to furniture allowance, which is 300 percent of their annual basic salary (N23.3m); house maintenance allowance, which is 10 percent of basic salary (N778, 296); utility allowance, which is 20 percent of the salary (N1.5m) and car upkeep allowance, which is 30 percent of the annual basic salary (N2.3m).

Other benefits include an entertainment allowance, which is 10 percent of the basic salary (N778, 296), and a personal assistant, who will earn 25 percent of the governor’s annual basic salary (N1.9m).

A former governor will also be entitled to eight policemen and two officials of the Department of State Services for life.