The city hall and the seat of the mayor of Lolland municipality is in Maribo while the largest town is Nakskov. There are 31 members - including the mayor - of the municipal council. The current mayor - elected for the 2014-17 term - is a Socialdemocrat, the 1st deputy mayor is from the agrarian liberal Venstre and the 2nd deputy mayor is from Dansk Folkeparti.
Lolland municipality is a countryside municipality largely dependent on its agricultural industry featuring an open and intensively farmed landscape. The island has been renowned for its large sugar beet production.Despite the official vision of creating an ecologically sustainable economy agriculture is mainly conventional and focusing on cash crops like wheat, sugar beets, rapeseed and an intensive production. The sugar beets are refined in up to date processing facilities in Nakskov, the main industrial center.
The focus on green technologies has resulted in another landscape feature, the many windmills dotting the island.
The shipyard Nakskov Skibsværft founded in 1916 by East Asiatic Company'sH. N. Andersen, who was born in Nakskov, was the largest single workplace in the area with 1.500 employees. It closed January 1, 1987. Other large industrial production sites within the municipality have concentrated their efforts on specialised parts of the production, design for instance, but all factory jobs - the majority of the jobs - have been lost, i.e. MAN B&W Diesel A/S (founded as Holeby Dieselmotorfabrik A/S in 1919) in Holeby.
In January 1985, the area covering the present municipality had 55.897 inhabitants. In 2013 alone, population numbers fell by 2%, from 44.436 to 43.528 inhabitants.