By Ade Jacobs
As part of measures to support the recovery of businesses affected by looting and destruction by hoodlums disguising as #EndSARS protesters, the governor of Lagos State, Babajide Sanwo-Olu, has announced a tax break on Pay As You Earn (PAYE) for all business owners in Circle Mall, one of many torched during the unrest.
This is just as he appealed to the federal government to ensure that they also get tax relief from the Federal Internal Revenue Service, FIRS.
He made this disclosure on Tuesday during a tour of Circle Mall in Lekki, Lagos State, where he also assured shop and store owners that the government has drawn up a plan to help them start their businesses afresh. The state government assistance, the governor explained, will come in terms of tax holiday and direct financial assistance to them.
Sanwo-Olu said the grant support to the victims is a non refundable one, adding that beneficiaries are not expected to pay back, but the lending support would be in form of a loan, as the government has arranged with some financial institutions to assist people with zero interest loans.
He, therefore, urged the victims to reach out to the Lagos State Employment Trust Fund, LSETF and urged them to make use of the opportunity provided by the agency in assisting people who are in business, especially small scale businesses.
The governor also implored people to cultivate good habits and be agents of positive change in their communities.
Reiterating his administration’s commitment to security of lives and property in the state, Sanwo-Olu said Lagos State will no longer tolerate hoodlums looting and destroying government and private businesses and properties.
Some victims at Circle Mall had earlier appreciated the governor for agreeing to assist them but urged him to ensure that official bottlenecks did not delay the help from reaching them.
This commitment by Lagos State Government came against the background of attacks and looting of public and private businesses, as well as government establishments by hoodlums who took over the #EndSARS protest two weeks ago.
In the aftermath of the incident, many business owners had appealed to the state government for assistance to enable them recover from the losses incurred following the arson and wanton destruction that marred the protest against police brutality which peaked when soldiers shot at peaceful protesters in Lekki, a highbrow area in the state on October 22.
The state government has estimated the cost of the damage to be around N1 trillion naira.