The N1 trillion rebuilding of Lagos – devasted by the destruction that accompanied the #EndSARS protests – has started.
The Federal Government is leading the support team for Lagos State government, supported by the National Assembly and boosted by business leaders spearheaded by Central Bank of Nigeria (CBN) Governor Godwin Emefiele.
Vice President Yemi Osinbajo was at the inauguration of the Board of Trustees of the Rebuilding Lagos Trust Fund attended by House Speaker Femi Gbajabiamila and Emefiele.
Africa’s richest man Aliko Dangote was represented by Mansur Ahmed and Senate President Ahmed Lawan was represented by Senator Olamilekan Adeola.
Governor Babajide Sanwo-Olu was Chief host, supported by Deputy Governor Obafemi Hamzat and Speaker Mudashiru Obasa.
The destruction in Lagos was massive. It cuts across public and private sector property, palaces, businesses and many other infrastructures, including public buses that were burnt, police stations and quarters were razed or damaged and many policemen killed or maimed.
Emefiele said the Bankers Council was working with CA-COVID to rehabilitate and rebuild Lagos. He said funds will be provided for the rebuilding of burnt police stations and provision of damaged facilities to assist those whose businesses were damaged.
He said CA-COVID and the Bankers Council will next week come out with a blueprint on a rebuilding plan.
“Bankers Council and CA-COVID will work for restocking and rebuilding of their businesses again after taking stock of the damage,” the CBN boss said.
Emefiele also assured that they will take measures to complement government effort at creating jobs and enhance the security apartments. He appealed to members of the organised private sector to join in the rebuilding project.
Osinbajo said the fortunes of the nation is tied to the fortunes of Lagos in so many ways.
“This is the state that leads by far in the collection of non-oil revenues. The bulk of the VAT (Value Added Tax) is generated here; of the 114 persons who pay self-assessed taxes of over N10 million, 112 of them live and work here in Lagos. The Lagos Port, whose Marina Office was attacked, generates the most revenue and it is the busiest in the country.”
The vice president expressed regret that the noble cause of the #EndSARS protests designed to call attention to a serious malignant problem of brutality and extrajudicial killings, was subverted, leading to the exact opposite of its objectives; chaos, murder, looting and arson.