Ayodele Olalere
Following the destruction of some businesses during the last year EndSARS crisis, the Lagos State Government, on Wednesday, revealed that it has spent N939.98 million to revitalized not less than 10,000 businesses affected by the protest.
The state’s Commissioner for Wealth Creation and Employment, Mrs. Yetunde Arobieke disclosed this, on Wednesday, during the annual ministerial press briefing commemorating the second anniversary of the administration of Governor Babajide Sanwo-Olu.
Mrs. Arobieke said about 40,020 indirect jobs were saved in the aftermath of the protest in the state.
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Said she, “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 organizations and private individuals, businesses were supported with grant sums ranging from ₦50,000 to ₦5,000,000 to beneficiaries to rebuild their businesses.
“1,835 total number of beneficiaries, N939.98 million (approx. US$2.47million) total amount of money disbursed and 10,005 direct jobs and 40,020 indirect jobs saved.
“The Ministry has been made possible through the unwavering support of the Governor of Lagos State, Mr. Babajide Olusola 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,” she said.
In the area of 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.
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She, however, disclosed that Governor Sanwo-Olu would soon launch Lagos initiative to be called ‘Cash Token Policy.’
The commissioner continued, “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.”
She 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 introducing a Cash Token Policy. That is cash on the spot, the moment your cash is on the spot. I don’t want to give details for now,” she stated.
