The Lagos State Governor, Mr. Babajide Sanwo-Olu, has promised to assist small and large enterprises to bounce back to business following the recent looting and burning of several shops and stores at the mall by hoodlums during the #EndSARS protests.
Following the shooting of #EndSARS protesters at the Lekki tollgate in Lagos on October 20, 2020, violence had escalated in the state, leading to looting and razing of government and private properties.
Speaking on Sunday during a meeting with tenants and shop owners at Circle Mall in Lekki, Babajide Sanwo-Olu, governor of Lagos, said the owners of vandalised stores would be given tax breaks, as well as other forms of financial support.
“The Lagos State Government will not leave the people to bear the pains alone; the government will assist them to return to their respective businesses.
“The government will give all business owners in the burnt Circle Mall a tax break of PAYE; we will also appeal to the Federal Government to ensure that they get tax relief from the Federal Inland Revenue Service.
“We will give victims of the Circle Mall financial support, which will be in the form of grants or loans to cushion the effect of the looting and destruction of their shops and stores,” the statement partly read.
“The grant support is non-refundable financial support to the victims. The affected businesses are not expected to pay back while the lending support would be in form of a loan.”
The governor said that he is “already discussing with some financial institutions to assist people with zero-interest loans.”
(C) Control TV 2020.
