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Business News of Friday, 22 May 2020

Source: MyNigeria

We don't want employees to be sacked- Sanwo-Olu to Lagos coys

Lagos State Governor, Babajide Sanwo-Olu Lagos State Governor, Babajide Sanwo-Olu

Lagos State Governor, Babajide Sanwo-Olu has asked commercial firms in the state to take it easy with employees.

He pleaded with them not to be too quick to fire workers as it could, in fact, affect the State's Internally Generated Revenue.

"We are having conversations with different sectors on the requirements they need to ensure they do not retrench their staff. What many of the companies want will affect the State's IGR but we are willing to make the sacrifice to prevent the loss of livelihood of our citizens," he said.

Sanwo-Olu promised to soften the ground for businesses. He even offered incentives to large business to curtail job loss.

"As the commercial centre of the country, we are offering incentives to businesses that employ a large number of people to avoid job loss," he added.

On the issue of reopening the economy, the state governor said it will be done in phases.

"The re-opening will not be hastily done. The various sectors will be reset in a gradual manner. The construction and manufacturing sector will be accorded high priority while the entertainment and hospitality sectors will be considered in the second phase."

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