States paying outgoing government pensions owe N3 trillion in debt.

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Despite increasing debts and unpaid wages for workers, no fewer than 18 departing state governors will retire into lives of luxury with significant pension benefits.

On May 29, 2023, the governors will give over power to their successors, leaving at least N3.06 trillion in debt for the new administrations to pay off. The 18 states are responsible for 38.34% of the $4.46 billion in total international debt and 42.51 percent of the N5.34 trillion in total domestic debt.

Along with receiving 30% of their basic pay annually for furniture, free medical care, and entertainment funding, they also receive 100% of their basic pay.

The pension law for former governors and their deputies was enacted by the administration of former governor Rotimi Amaechi and made other provisions such as two choice houses in any area of their choice in Rivers State and Abuja and three cars replaceable every three years for the governor.


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