#EndSARS: Sanwo-Olu Considers Tax Break, Financial Supports For Business Owners - Uju Ayalogu's Blog for News, Reviews, Articles and More

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Sunday, 1 November 2020

#EndSARS: Sanwo-Olu Considers Tax Break, Financial Supports For Business Owners

#EndSARS: Sanwo-Olu Considers Tax Break, Financial Supports For Business Owners

Lagos State Governor, Babajide Sanwo-Olu has stated that his administration is already considering tax break and financial supports for business owners who were affected during the #EndSARS protests in the state

The governor disclosed this during his condolence visit and meeting with tenants and shop owners at Circle Mall in Lekki, on Sunday.

It would be recalled that on Wednesday, October 21, some hoodlums went on rampage following the fallout of the EndSARS protests to loot and destroy property worth billions of naira at various shopping malls and also set their building ablaze which the Circle Mall was also affected.

Speaking on his administration readiness to assist those affected by the ugly incident in Circle Mall, Lekki, Governor Sanwo-Olu said Lagos State Government would not leave the people to bear their pains alone, promising that government would assist them in returning back to their respective businesses.

The governor said Lagos State Government would give all business owners in the burnt mall tax break of PAYE and also appealed to Federal Government in ensuring that they get tax relief from the Federal Government through the Federal Internal Revenue Services (FIRS).

The governor said the state government would give victims of the mall financial supports, which would be in form of grants support or lending support to cushion the effect of the looting and destruction of their respective

shops and stores.

Governor Sanwo-Olu explained that the grant support would be in form of government giving financial support to the victims, which they are not expected to pay back while the lending support would be in form of a loan, adding that he is already discussing with some financial institutions to assist people with zero-interest loan.

He also informed them to reach out to the Lagos State Employment Trust Fund (LSETF) and urged them to make use of the opportunities being provided by LSETF in assisting people who are in business, especially small scale businesses.

The governor also implored people on reorientation of value system and civil responsibility for everybody to be agent of positive change in their community and anywhere they found themselves.

Governor Sanwo-Olu also reiterated his administration commitment to security of lives and property in the state, noting that Lagos State will no longer tolerate hoodlums looting and destruction of government and private businesses and properties.

He said though Lagos State Government could not stop people from coming into the state, but warned people with criminal mind coming to go elsewhere before being smoke out by the government.

Governor Sanwo-Olu said his government is ready to encourage people who were in Lagos for business and would go extra mile to protect businesses in the state.

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