The Lagos State Government has set up an eight-man team to champion its rebuilding efforts, after several properties were vandalized by hoodlums, who had hijacked the #EndSARS protest. The team is dominated by members the of Bankers’ Committee and the Private Sector.
This was disclosed by the State Governor, Babajide Sanwo-Olu, via the state’s Twitter handle on Monday.
According to the Governor, who issued a statement after a meeting with the Vice President Yemi Osinbajo and stakeholders, the proportion of the devastation suffered by the State is unprecedented. He added that the coordinated violence set Lagos economy – fifth largest in Africa – back by hundreds of billions of naira.
The team, which was led by the Chairman of Citibank Nigeria, Mr. Yemi Cardoso, was constituted a fortnight ago by the Governor to coordinate the recovery effort.
Sanwo-Olu said the consultative forum was to set the stage for the necessary public-private partnerships and collaborations required for the task of rebuilding and restoration of the infrastructure that was destroyed.
He said, “The violence we witnessed last October is the most widespread carnage the State has seen in decades. Every aspect of life and livelihood in Lagos was affected – government buildings, offices, public monuments and historical archives, public infrastructure and very sadly too, private property and investments.
“The violence has, no doubt, set our economy back by hundreds of billions of Naira, and impacted our confidence. We have, however, found hope and great strength in the offers of assistance from far and wide, which culminated in the constitution of the Lagos Rebuild Committee to coordinate our efforts to rebuild and upgrade our state.
“We seek to restore the infrastructure that was destroyed, to revive the energy and confidence of everyone who has been affected by these losses, to help restore the confidence of the people of Lagos in the infinite potentials of Lagos. The State Government cannot do this alone. We need all the help that we can get.”
The Governor disclosed that the State Government would be setting aside a huge amount of money as the State’s collateral in the recovery effort, adding that the Cardoso-led team that will be coordinating the Trust Fund would be given legislative backing through an Executive Bill that will soon be transmitted to the House of Assembly.
“Money that will be donated into the Trust Funds would go into rebuilding and re-tooling security infrastructure, strengthening public transportation systems, restoring judicial and local government operations, rebuilding damaged public monuments,” he added.
Sanwo-Olu emphasized that transparency and accountability would be foundational elements in the implementation of the mandate of the rebuilding committee, stressing that the fund-raising and disbursement would be supervised by FBN Trustees Limited.