Lagos State Government on Wednesday revealed that it has revitalized not less than 10,000 businesses adversely affected by the EndSARS protest with N939.98 million.
Commissioner for Wealth Creation and Employment, Mrs. Yetunde Arobieke, who made the disclosure during the ministerial press briefing on the second anniversary of the state Governor, Mr. Babajide Sanwo-Olu’s administration in office, said about 40,020 indirect jobs were saved in the aftermath of the protest in the state.
Arobieke said: “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.”
Speaking on the Federal Government’s initiative on Conditional Cash Transfer, the commissioner said the state government approved the establishment of the Lagos State Cash Transfer (LSCTU) for the implementation of the nationalr Programme.
She, however, disclosed that Governor Sanwo-Olu will soon launch the Lagos initiative to be called ‘Cash Token Policy.’
The commissioner explained that what she had experienced from the beneficiaries of the N20,000 conditional Cash Transfer showed the level of poverty in the country.