Recent Violence Set Lagos Economy Back By Tens Of Billions Of Naira – Sanwo-Olu

NOVEMBER 16, 2020

Lagos State Governor, Babajide Sanwo-Olu, has again spoken about the impact of the destruction of government and private properties on the state’s economy.

Speaking at the Consultative Forum on Rebuilding Lagos held on Monday, Governor Sanwo-Olu stated that the October violence has led to the loss of billions of naira.

“The violence has no doubt set our economy back by tens of billions of Naira and impacted our confidence,” he said.

Continuing, the governor said: “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?”

Read also: Sanwo-Olu Presents Report On ‘Lagos Destruction’ To President Buhari

According to him, the violence is the most widespread carnage Lagos has seen in decades and the level of destruction was worrisome.

“Every aspect of life and livelihood in Lagos was affected – government buildings offices, public monuments, and historical archives, public infrastructure like our BRT buses, and, very sadly too, private property and investments – malls, shops, small businesses, residences and many more,” Governor Sanwo-Olu told the forum.

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.

The governor stressed that following the violence, the state would bounce back and emerge stronger.