- Lagos Pays ₦1.13bn to 668 Retirees in Latest Pension Disbursement
- Reaffirms Commitment to Retirees
- Obilana attributed the smooth disbursement process to strong collaboration between LASPEC, pension fund administrators, annuity service providers, and other stakeholders involved in the system
The Lagos State Pension Commission has disbursed over ₦1.13 billion to 668 retirees, as the Lagos State Government continues to strengthen its pension system and improve the welfare of former public servants.
Eko Hot Blog reports that the payments were announced during the 114th Batch Retirement Bond Certificate Presentation Ceremony held in Lagos over the weekend.
EDITOR’S PICK
- 10 Nigerians Convicted in US Over $125m Internet Fraud Scheme
- Ikeja Electric Implements Load Shedding Amid Power Shortage
- Body of Man Killed by Police in Delta Not Missing – Police Command
Speaking at the event, LASPEC Director-General, Babalola Obilana, explained that the funds cover accrued pension rights for workers who retired before the introduction of the Contributory Pension Scheme in 2007.
He said the ₦1.126 billion payout reflects the government’s commitment to ensuring that retirees receive their benefits promptly, despite ongoing economic challenges. According to him, Lagos has continued to stand out as a leader in pension administration, with one of the most efficient systems in the country.
Obilana attributed the smooth disbursement process to strong collaboration between LASPEC, pension fund administrators, annuity service providers, and other stakeholders involved in the system.
He noted that this latest batch adds to the growing number of retirees who have already received their entitlements, reinforcing the state’s promise of financial security for its workforce after service.
The commission is also working to improve its operations further. Obilana revealed that LASPEC has stepped up training and capacity-building programmes for officers across ministries, departments, and agencies to ensure faster and more efficient pension processing.
The latest payout highlights Lagos State’s ongoing efforts to build a reliable and sustainable pension structure that supports workers even after retirement.
FURTHER READING
- Labour Unions Throw Weight Behind Hamzat’s 2027 Lagos Governorship Bid
- Lagos Boosts HOPE Programme with Operational Vehicles
- Yoruba Tennis Club @100: Obasa Celebrates Legacy, Impact
Click here to watch video of the week
