Following the recent looting and burning of several stores at Circle Mall in Lekki, his excellency Lagos State Governor, Mr. Babajide Sanwo-Olu has promised to assist shop owners bounce back as quickly as possible.
The Governor committed to this during his condolence visit on Sunday 1st November assuring tenants that he will give tax breaks and some financial assistance to all the business owners affected.
The Governor specifically committed to giving all business owners tax breaks of PAYE (Pay As You Earn) and has also appealed to Federal Government to ensure that they get tax reliefs from the Federal Internal Revenue Services as well (FIRS). This will be complemented by financial support in the form of grants which will be nonrefundable or loans to cushion the effect of the unfortunate incident. The Governor has stated that he is currently in talks with financial institutions to assist with zero interest loans.
Finally, his excellency reiterated his administration’s commitment to securing lives and property in the state, and zero tolerance for looting and destruction of government and private businesses and properties.
Drafted by the desk of the Senior Special Assistant to the Governor on new media.