• Tuesday, May 28, 2024
businessday logo

BusinessDay

ENDSARS looting: Lagos to offer tax break, grants to ruined businesses

Lagos raises budget, constructs roads to connect more communities

The Lagos State government is considering tax break and financial supports to enable operators at Circle Mall, Lekki, whose shops were looted and burnt by hoodlums who hijacked the recent nationwide EndSARS protest, bounce back to business.

Speaking during a visit and meeting with tenants and shop owners at the Mall, on Sunday, the state governor, Babajide Sanwo- Olu said the government would give a tax break to all businesses owners affected by the ugly incident.

Recall that some hoodlums went on rampage on Wednesday, October 21, after the ENDSARS protest was hijacked and looted property worth billions of naira at the Circle Mall and also set parts of the building ablaze.

On his administration’s readiness to assist those affected, Sanwo-Olu said the government would not leave the people to bear the burden alone, assuring that they would be aided to return to businesses.

READ ALSO: Face-off with FG: We can’t go back to classrooms on empty stomach – ASUU

Apart from promising to assist the business owners, the governor also appealed to the Federal Government to ensure that they get tax relief from the Federal Internal Revenue Services (FIRS).

Sanwo-olu said the grants to be given to the affected businesses would be nonrefundable, just as he promised to open discussion with some financial institutions to assist people with zero-interest loans.

Sanwo- Olu also asked the shop owners to reach out to the Lagos State Employment Trust Fund ( LSETF) and urged them to make use of the opportunities being provided by the agency in assisting business, especially small scale businesses.

The governor further implored people on reorientation of value system and civil responsibility for everybody to be agent of positive change in their community and anywhere they found themselves.

He reiterated commitment to securing lives and property in the state, saying the state government would no longer tolerate hoodlums looting and destroying government and private businesses and properties.

The tenants at Circle Mall thanked Sanwo-Olu for showing empathy in the face of daunting challenges. They asked him to assist them financially so as to get back on their feet.