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LCCI, MAN seek govt support for victims as private sector reels from hoodlums’ attacks

Toki Mabogunje, President LCCI

The Lagos Chamber of Commerce and Industry (LCCI) is pressing for the intervention and support of governments at national and sub-national levels as well as commercial banks for businesses that have been devastated and looted across the country following hoodlums’ attacks across the country last week.

LCCI President Toki Mabogunje, in a statement issued on Monday, disclosed that the families of the victims should be rewarded through grants.

She enjoined the Nigerian government to assist Lagos State in rebuilding the properties that were ruined in the crisis in light of the current harsh economic condition the state is facing.

“We share the pain of all investors: micro, small, medium and large that suffered losses as a result of the arson, looting and the destruction of their valuable fixed and moveable assets.

“We share the grave concern of employees who are at the risk of losing their jobs as a result of these deplorable and debilitating incidents,” Ms Mabogunje said.

She called for peace, engagement and dialogue among stakeholders with a view to cultivating an enabling business ambience that will enhance security of investments.

Read also: Nigeria’s debt may hit N34tn by Dec, debt-to-revenue ratio now 72% —LCCI

“We need to embed in the governance process the norms and ideals of the democratic process: rule of law, transparency and accountability in political governance, and citizen engagement, among others.”

Meanwhile Ambrose Oruche, the acting director-general of the Manufacturers Association of Nigeria, stated that the group is receipt of reports that some of its members are affected by the looting and vandalisation of properties across Nigeria.

More commercial banks should set up a trust fund to support individuals and businesses affected by the crisis, Oruche said, in addition to a special fund created by some lenders to succour the victims.

“No doubt, the economy has been impacted by this ugly incident of looting and arson of public and private businesses.

“Some banks have come up with some palliatives like Access Bank that gave out interest-free facilities and the Lagos State Government came up with palliatives for businesses,” he said.

“We want the government to set up a trust fund for people that were affected for them to recover and continue to create employment.”

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