Lagos State governor, Mr Babajide Sanwo-Olu, on Tuesday, said his administration is resolved to sending a draft Executive Bill to the State House of Assembly for the repeal of the Public Office Holder (Payment of Pension Law) in respect of former governors and deputy governors, with the aim of keeping costs of governance low and to signal selflessness in public service.
Sanwo-Olu made this known while presenting the 2021 proposed budget which stands at N1.6trn to the House for passage into law.
The governor, while justifying the proposed bill said it was occasioned by the need to come up with innovative
ways of keeping the costs of governance at a minimum in the face dwindling revenues and the inflationary growth rates in the economy.
“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.
“It is our firm belief that with dwindling revenues and the appurtenant inflationary growth rates, that we need to come up with innovative ways of keeping the costs of governance at a minimum while engendering a spirit of selflessness in public service,” Sanwo-Olu said.
The governor said the 2021 Budget was tagged: “Budget of Rekindled Hope, “to reflect our determination to rise above the challenges that have affected our development indices in the last 10 months.”
Breakdown of the budget, according to him, showed that Education will take N143,655,493,855.89, Agriculture, N18,311,948,584.57, Health, N118,360,479,650.50, Commerce, N41,989,851,318.18, Energy and Mineral Resources, N32,585,739,585.09, while Transportation is allocated a sum of N98,931,628,325.88.