Lagos hit below the belt - Obasa says as Sanwo-Olu presents 2021 N1.2trn budget

Mudashiru Obasa has highlighted COVID-19 crisis and recent wanton destruction as two things to affect Lagos state's 2021 budget

The Lagos speaker made this known as Governor Babjide Sanwo-Olu presented 2021 budget of N1.2trillion

The budget, christened "Budget of Rekindled Hope" was presented to the House of Assembly on Tuesday

The speaker of the Lagos state House of Assembly, Hon Mudashiru Obasa, has said the state was "hit below the belt" by the violence that escalated from the recent EndSARS protests.

Obasa added that the state would have to contend with the effects of COVID-19 and the violence on its economy as it matches into 2021.

The speaker said this on Tuesday, November 10, while addressing guests during the presentation of the 2021 budget of N1.2 trillion by Governor Babajide Sanwo-Olu.

Sanwo-Olu had christened the 2021 estimate a "Budget of Rekindled Hope", adding that it is aimed at rebuilding the state following the devastation it suffered and its effect on the economy.

Lagos speaker, Mudashiru Obasa, said the state's 2021 budget will be affected by COVID-19 crisis and recent destruction. Credit: Premium Times
Source: UGC

Speaking after the speech presented by the governor, Sanwo-Olu said: "The anarchy, burning, and looting of businesses have hit the economy with a blow beneath the belt.

"At the backdrop of the destruction of public and private properties and businesses in the wake of the #EndSARS protests, businesses have been counting their losses while economy experts have listed the immediate challenges the crises will throw-up against Nigeria's struggling economy. "Also, the replacement cost to Lagos State Government, which is the worst hit by the crises, is put at N1 trillion. More so, the overall cost to the private businesses has been put at several billions of US dollars." Obasa noted that he and his colleagues would continue to support the freedom of expression as well be willing to interact with everyone in the state including youths.

He, however, urged for consideration of the use of social media as a means of contributing to development.

"When social media is employed in a ruthless manner such that causes disharmony, disaffection, and disintegration among family, friends and ethnic groups, it can no longer be considered to be beneficial to the society as a whole. "For those who lost their lives and property, particularly the gallant Nigerian police, those whose businesses were destroyed, City Hall, Lagos judiciary, the TVC family, all the petty traders and affected banks and the residents of our dear state, I identify with you all at this trying period."

Governor Sanwo-Olu has announced his intention to repeal the Public Office Holder (Payment of Pension Law 2007).

Gawat Jubril, Governor Sanwo-Olu's senior special assistant on new media, made this known via a tweet on Tuesday, November 10.