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Recent Violence Has Set Lagos Economy Back By 10s Of Billion Of Naira – Sanwo-Olu

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Governor Sanwo-Olu has revealed that the recent violence and destruction in the State has led to a set back worth tens of billions naira. This is coming after Nigerians commend his co-Governor Seyi Makinde for the increased IGR without an increase in taxes.
Sanwo-Olu made this known in his remarks at the Consultative Forum on Rebuilding Lagos held today, noting that it has not only cost the State tens of billions in its economy, but also its confidence, leading to psychological damage, fear, terror and helplessness on the part of all of the victims.
According to him, the violence is the most widespread carnage Lagos has seen in decades and the level of destruction was worrisome. He, however, noted that the state has found hope and great strength in the offers of assistance from various individuals and groups, which culminated in the constitution of the Lagos Rebuild Committee to coordinate the government’s efforts to rebuild and upgrade the state, stressing that the state would bounce back and emerge stronger. “The violence has no doubt set our economy back by tens of billions of Naira and impacted our confidence”, he began.
Read also: #EndSARS: Army Savages Sanwo-Olu, Accuses Him of Dishonesty Over Lekki Shootings
“Beyond the physical and economic impact, there has also been the psychological damage; the fear, the terror, the helplessness that all of the victims have felt, the questions about how or where do we start from? Here is a city that emerged from the most unpromising beginnings, out of the gloom of a sprawling lagoon and malarial swamps. By dint of hard work, entrepreneurial energy, and creative excellence, everything we see and hold dear today was built, over the centuries. In that time there have been setbacks and challenges of various kinds. The most prominent ones include the Royal Navy bombardment of 1851, the Influenza epidemic of 1918, the Bubonic Plague of the 1920s, even the loss of Federal Capital status that many assumed would severely downgrade the state. Most recently, we also faced and defeated Ebola in 2014, and the Coronavirus pandemic of 2020 – in both cases, Lagos was the Nigerian epicentre”, he told the meeting.
Sanwo-Olu
Governor Sanwo-Olu
Photos Credit: Getty

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