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Lagos doles out N940m recovery fund to businesses affected by #EndSARS protest

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No fewer than 1,835 business owners have benefitted from the Lagos State MSME recovery fund set up to help the businesses affected by the violence that followed the #EndSARS protest of last October.

The State Government disclosed on Wednesday that some of the business owners affected by the wanton destruction of properties and looting of goods, have been given N939.98 million to recover their losses.

In October, 2020, Nigerian youths took to the streets to protest against Police Brutality and push for the scrapping of the Special Anti-Robbery Squad (SARS) unit of the Police.

Despite government’s immediate response as to scrapping the unit, the protests continued and was eventually hijacked by hoodlums, who wrecked havoc by destroying properties and looting away businesses in the state.

But the Commissioner for Wealth Creation and Employment, Mrs. Yetunde Arobieke said efforts were already being made to help the businesses recover their losses.

She said this during the ministerial press briefing to commemorate the second anniversary of the state Governor, Mr. Babajide Sanwo-Olu’s administration in office.

READ ALSO: Lagos govt to offer tax break, financial support to victims of looting during #EndSARS protests

”The MSME Recovery Fund was set up to support businesses in Lagos State whose properties and assets were vandalized post #ENDSARS protest,” said Arobieke

“With funding from both Lagos State Government, corporate organizations, and private individuals, businesses were supported with grant sums ranging from: ₦50,000 to ₦5,000,000 to beneficiaries to rebuild their businesses.”

She added, “1,835 total number of beneficiaries, N939.98 million total amount of money disbursed and 10,005 direct jobs and 40,020 indirect jobs saved.

“This was made possible through the unwavering support of the Governor of Lagos State, Mr. Babajide Sanwo-Olu in his pursuits to mitigate unemployment in Lagos State,

“I wish to re-affirm that the ministry will continue to strive for the actualization of its mandate.These efforts through our activities and its resultant achievements have earned us commendations within and even in the Diaspora.”

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