Lagos inaugurates N1bn pension for workers

Kunle Awosiyan, Lagos - 02.05.2008

To guarantee the security of its public sector workers after retirement, Lagos State government has inaugurated N1 billion Pension Sinking Fund with substantial investment to sustain the contributory pension scheme.

The state governor, Mr. Babatunde Fashola, disclosed this during the 2008 Worker’s Day celebration with the theme: “Making Nigeria work for its people,” at Onikan on Thursday.

He said the creative initiative would ensure regular payment of civil and teaching service pension and gratuities including the 142 per cent arrears on pension and 25 per cent pension increase respectively in tandem with the nationwide salary increase.

Fashola, who expressed gratitude to the workers for cooperating with his administration, urged them to exhibit more of their skills and intellect to service than paper work.

“We must define new paradigms of work and wealth creation. We must put appropriate value on time realising that it is the only resource that is not recoverable apart from life, whenever it is lost.

“We must resolve to create opportunities out of challenges. We must cross from paper work to creative work, where hands and natural skills can be deployed for productive and rewarding purpose. We must dare and not be afraid to fail.”

Meanwhile, the Nigeria Labour Congress (NLC) in the state has expressed worry over the disparity in the salary structure of health workers.

The union made its displeasure known during the 2008 Workers’ Day celebration.

Calling the attention of the state governor, the chairman of the union, Mr. Michael Alogba Olukoya, said health workers in the local government councils were yet to begin enjoying the 90 per cent allowance implemented by the state government in 2007.

According to Olukoya, the notice for the implementation of the allowance was circulated to all local councils, but no health worker had enjoyed the allowance.