• Sunday, May 19, 2024
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Lagos disburses N32bn pension benefits in 3 years

Lagos disburses N32bn pension benefits in 3 years

….harps on capacity building for public servants.

Lagos State governor, Akinwunmi Ambode has approved the release of N1.075 billion payment to 301 retirees, bringing to N32 billion the sum so far disbursed by the state government under the Contributory Pension Scheme (CPS) between 2015 and 2017.

This is as the government said it would continue to emphasize capacity building to better position public servants in the state to weather the challenge of Lagos as a megacity and emerging third largest economy in Africa.

The latest pension beneficiaries include a staff of local government and State Universal Basic Education Board (SUBEB), who retired in November 2017. On the whole, a total 7,976 retirees have been their entitlements under from 2015 till date, which put Lagos ahead of other states in the implementation of the CPS.

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At a brief ceremony in Lagos, Tuesday, to present the retirees with their bond certificates, Governor Ambode represented by Akintola Oke, the commissioner for Establishments, Training and Pensions, stated that the continued prompt payment of the pension benefits through the Lagos State Pension Commission (LASPEC) was a demonstration of government’s commitment to the wellbeing of its retirees.

According to him, the CPS arrangement has ensured that pensioners no longer have to queue up and wait for months after retirement before getting their accrued benefits. Oke said “this has resulted in a better Lagos,” adding that the current administration was in the process of providing Pensioner’s ID cards that would enable them access certain services provided by the government, free of charge.

Speaking also at a two-day capacity building programme for select public servants in the state, the commissioner said the continued training and retraining of staff was to prepare them for the challenges of being one of the most prosperous economies in Africa. “Lagos state is the 5th largest economy in Africa, we are determined to move from the fifth to the 3rd largest economy in Africa. Again, Lagos State as we speak is a megacity that is currently moving to the smart city.

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“What this entails is that we want to replicate most of the things obtainable in the United Kingdom, Soviet Union and other developed countries of the world in Lagos with little adjustment because of the difference of the social settings. We will replicate some of those things with minor adjustment.

“This is why the Governor approved the capacity building programme for public servants to enable them to cope and compete with their foreign counterparts all over the world because the public servants in the state are the real engine room of Lagos.”

According to the commissioner, experience has shown that training increase productivity; help retain and maximise the capacities of people in organisations such as the Lagos State public service; help nurture future leaders as well as increase employee engagement.