#EndSARS: Lagos revitalises 10,000 businesses with N939m

Lagos State government, on Wednesday, said it revitalised no fewer than 10,000 businesses adversely affected by the #EndSARS protest with N939.98 million.

The State’s Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke, made this known during the Ministerial Press Briefing on the 2nd Anniversary of Governor Babajide Sanwo-Olu’s administration in office, saying the MSME Recovery Fund was set up to support the affected businesses whose properties and assets were vandalized post #EndSARS protest that rocked the nation in October 2020.

Besides, Arobieke further disclosed that about 40,020 indirect jobs were saved in the aftermath of the protest in the state.

“The MSME Recovery Fund was set up to support businesses in Lagos State whose properties and assets were vandalized post #EndSARS protest that rocked the nation in October 2020. With funding from both Lagos State government, corporate organisations and private individuals, businesses were supported with grant sums ranging from ₦50,000 to ₦5,000,000 to beneficiaries to rebuild their businesses,” she said.

According to her, a total sum of N939.98m was disbursed in respect of 10,005 direct jobs, and 40,020 indirect jobs, saying the gesture had been made possible through the unwavering support of the Governor Sanwo-Olu in his pursuits to mitigate unemployment in the state.

Speaking on the Federal Government’s initiative on Conditional Cash Transfer, the Commissioner said the state government approved the establishment of the State Cash Transfer (LSCTU) for the implementation of the National Cash Transfer Programme, even as she disclosed that Governor Sanwo-Olu would soon launch Lagos initiative to be called ‘Cash Token Policy.’

The commissioner, while disclosing the move, explained that what she had experienced from the beneficiaries of the N20,000 conditional Cash Transfer showed the level of poverty in the country.

“We are starting our own humanitarian programme but it’s not going to be N20,000. We have evaluated what the Federal Government is doing but we believe it is not sustainable.

“We are introducing a Cash Token Policy. That is cash on the spot. I don’t want to give details for now,” Arobieke said.

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FULL TEXT: A viral post on WhatsApp is asking N-Power candidates to verify the status of their application and see if they have been shortlisted for the batch C cash grant…#EndSARS: Lagos revitalises 10,000 businesses with N939m

#EndSARS: Lagos revitalises 10,000 businesses with N939m