EndSARS: Lagos Provides N940 Million to Businesses

EndSARS: Lagos Provides N940 Million to Businesses

NewsReport Nigeria May 6, 2021

The Lagos State Government has announced that it has provided N939.98 million in assistance to 1,835 businesses affected by the EndSARS protest mayhem.

NewsReport Nigeria reports that Mrs. Yetunde Arobieke, the Commissioner for Wealth Creation and Employment, announced this during the 2021 Ministerial Press Briefing in Commemoration of Gov. Bababjide Sanwo-Second Olu’s Year in Office.

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This online information medium gathered that Arobieke stated that the ministry established the Micro, Small, and Medium Enterprise (MSME) Recovery Fund to assist businesses in Lagos State whose properties and assets were vandalized following the EndSARS protest in October 2020.

She stated that businesses were supported with grant sums ranging from N50,000 to N5 million to beneficiaries to help them rebuild their businesses, thanks to funding from both the government, corporate organizations, and private individuals.

“With a total of 1,835 beneficiaries and N939.98 million distributed, 10,005 direct jobs and 40,020 indirect jobs were saved.”

”The achievements recorded by the ministry thus far have been made possible by the Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, in his pursuits to mitigate unemployment in Lagos State,” the commissioner stated.

According to Arobieke, the governor has approved the development of a model and robust online marketplace with numerous features that will make it globally competitive.

According to her, the aim is to expose the artisans to the global market and scale up their potentials and all government-certified artisans are currently been onboarded on the app.

She said that a total of 2,000 artisans selected from registered Trade Associations were re-trained in 2020, while the retraining and equipping of another batch of 2,000 artisans would soon commence.

According to Arobieke, the tradesmen were exposed to entrepreneurial training, bookkeeping, ICT, communication, and other training that are necessary for running modern-day businesses.