Lagos State Government has concluded plans to repeal the Public Office Holder Payment of Pension Law which prescribes pension for former Governors and Deputy Governors in the State.
The Governor, Mr Babajide Sanwo-Olu stated this on Tuesday during the presentation of Y2021 Budget Estimates to Lagos State House of Assembly.
According to the Governor, an Executive Bill to repeal the law will soon be forwarded to the lawmakers for consideration and passage.
He further that the bill which provides for payment of pension and other entitlements to former Governors and their Deputies.
Recall that on November 8, 2019, Sanwo-Olu proposed fiscal plan of N1.168 trillion, tagged: “Awakening to a Greater Lagos,” which he said would be funded from a projected Internally Generated Revenue (IGR) of N1.071 trillion. The budget deficit, put at N97.53billion, with N115 billion for public infrastructure, to be financed through internal and external loans.
Besides, the fiscal proposal also included a provision for the new minimum wage.
The initial budget seize was subsequently, reduced to N920.5 billion against N1,168.6 trillion, earlier approved by the State House of Assembly due to unforseen ravaging COVID-19 pandemic economic challenge.
Sanwo-Olu, presenting the budget at the Hallow Chamber of the state House of Assembly, Alausa, Ikeja, also unveiled his administration’s plan to remain focussed in the acceleration of the growth of State’s economy despite challenges of COVID-19 pandemic and #EndSARS protests occasioned by destruction of lives and property.
In his remark, Speaker Lagos House of Assembly, Mudashiru Obasa said “our party must desist from witch-hunting its power, in the name of political permutations.
“It should be known to those flying witch-hunting cards within the party that a sword that shreds its shield lacks protection. As such, I implore us to hold hands together to make the APC stronger, viable and resilient for the benefit of future elections.
“All our party leaders and followers in Lagos, particularly our National leader and the GAC members, let us be resolute, determined, focused and stand together in unity.
#JustIn#Lag2021Budget is themed "Budget of Rekindled Hope" and is estimated at N1,155,022,413,005.82k as presented by Mr. Gov. @jidesanwoolu #Lag2021Budget #RebuildingLagos #BuildingLagos #ForAGreaterLagos pic.twitter.com/5LM29U8IMP
— LagosHouseOfAssembly (@lshaofficial) November 10, 2020