Connect with us
Stanbic IBTC
Polaris bank
Fidelity ads


#EndSARS: LCCI asks FG to assist Lagos in rebuilding process

Federal and Lagos state governments have been urged to collaborate to provide support to all the victims of the unfortunate outcomes of the protest.



#EndSARS Protest: 80 BRT buses worth N3.9 billion were destroyed by hoodlums - LASG 

The Lagos Chamber of Commerce and Industry (LCCI), has asked the Federal Government to assist the Lagos State Government to rebuild the state’s assets destroyed by hoodlums, who hijacked the #EndSARS protest to vandalize and loot government and private properties.

This was disclosed by the chamber via a statement issued on Monday and signed by Toki Mabogunje, President of the LCCI.

READ: Caramelo Bar’s owner laments over N500m loss following demolition

The extent of the damage is yet to be ascertained, though the House of Representatives Speaker, Femi Gbajabiamila, said the state needs N1 trillion to rebuild destroyed properties.

According to Mabogunje, the Federal Government’s support has become necessary in view of the current challenging economic conditions that Lagos State is already grappling with.

READ: #EndSARS: Judicial Panel of Inquiry and Restitution to include Lekki toll gate incident – Sanwo-Olu

She said, “The Federal and Lagos state governments should collaborate to provide support (in the form of grants) to all the victims of the unfortunate outcomes of the protest and the subsequent attacks and destruction of properties and assets.

“Families of all those who lost their loved ones be adequately compensated, urging banks, to which some of the victims were indebted, to demonstrate an uncommon compassion towards them in respect of their indebtedness.”

READ: Insurance firms are reportedly selling off assets to meet NAICOM’s recapitalisation deadline

For the corporate and individual citizens, she explained that this is the time to demonstrate a culture of compassion in being ‘our brother’s keeper’ by supporting victims of the unfortunate incident.

“We note the setting up of the Judicial Panels of Inquiry in various states to investigate the circumstances that led to this unfortunate incidence with a view to avoiding a repeat of such occurrences in the future,” Mabogunje added.

READ: FG hires litigation firm, Franklin Wyatt, in legal battle with Eni S.p.A

Explore Data on the Nairametrics Research Website

bitcoin train

What you should know

Earlier on Monday, Nairametrics had reported that the Speaker of the House of Representatives, Femi Gbajabiamila, disclosed that Lagos State will need about N1 trillion for the reconstruction and repair of the properties and infrastructure that was vandalized by hoodlums.


READ: Wema Bank doesn’t need a merger to reach N1trillion capital base – CEO

Gbajabiamila disclosed this while responding to questions from State House Correspondents, after the assessment visitation of some of the properties that were destroyed during the protest.

Jaiz bank ads

Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper.The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference.The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

1 Comment

1 Comment

  1. Ahmad khan

    October 26, 2020 at 9:32 pm

    Yoruba and Igbo made themselves destruction and then were about to ask for assistance from the federal government of Nigeria! Was this a plain madness that those people who are head harder seeking immunity for their ignorance???

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.



Nairametrics | Company Earnings