AbdulRazaq, Sanwo-Olu assure business, property owners of compensation

Governor AbdulRazaq AbdulRahman and his Lagos State counterpart, Babajide Sanwo-Olu, have assured owners of destroyed businesses and properties that they will be compensated.

AbdulRazaq had announced N500 million recovery funds to assist businesses affected in last Friday’s attacks by hoodlums in the state.

In a meeting with owners of the businesses on Monday night, the governor urged them to register on the state’s website, as they had earlier been advised.

He said his administration was putting modalities in place to ensure that only people with genuine cases benefit from the financial assistance.

“Your sector is really important to this government. That is why we decided to engage you when we saw what happened, to bring you back as quickly as possible,” AbdulRazaq said.

The governor reiterated that small and medium scale businesses were key to the state’s economic development.

“On our part, we have the modalities for what we want to do. That is why we asked you to go to the website and fill the form. We mentioned a number as the amount to assist you. It could be more than that; it may be lower than that. But that is the benchmark.

“When we look at the data you send in and your claims, we will decide who to give grant to and those we will give interest-free loans to.

“We are also talking to one or two banks to make funds available for interest-free loans, with long-term repayment plans,” he added.

AbdulRazaq condemned the attempts to politicise the incident from some quarters, saying whatever political ambitions anyone may have were achievable only in a stable and peaceful environment.

Sanwo-Olu said his administration had begun the enumeration of properties, shops and businesses destroyed at Fagba area of the state to pay compensation to them.

ADVERTISEMENTThe governor promised that the compensation and enumeration would be done “as soon as we get the breakdown”.

Sanwo-Olu stated this while addressing residents of Fagba when he visited the area yesterday.

Fagba is one of the areas that experienced massive destruction by hoodlums during the protest.

The governor told them that the state might not be able to pay them fully, “but we would ensure that we do not leave you alone”.

He added: “I can assure you that we will not leave you to the pains alone. Government will come and we will try and help out.”

Sanwo-Olu decried the level of destruction in the area, saying: “The level of destruction that I have seen here is colossal and very unfortunate. Enumeration will start immediately.”