The speaker of the Lagos state House of Assembly, Mudashiru Obasa, has stated that the aftermath of the #EndSARS protests across the country devastated the economy of the state.
Obasa in his speech during the presentation of Budget 2021 by Governor Babajide Olusola Sanwo-Olu of the state titled; “Budget Of Rekindled Hope” estimated at N1,155,022,413,005 in the assembly premises Tuesday stated that the devastating effects of the destruction that followed the #EndSARS protests, in the state particularly, were beyond imaginations.
“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 economic 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,” he said.
Obasa added that it was evident that the role social media played in all of these could not be overlooked.
He said: “While we continue to support freedom of expression, willingness to interact with everyone be it youth, elderly and all categories of people as government, there is the need for us to be wary of those who use social media as a weapon of destruction, intimidations, assault and violation of the rights of others.
“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.”
The speaker stated that just like last year, the governor was in the assembly to make a formal presentation of the Y2020 budget, but that it was unknown to everyone that a major crisis that would rock the entire world in the name of coronavirus was in the offing.
