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AfricaBusiness & FinanceNigeria

Lagos State Govt to offer incentives for businesses to avoid job loss

By Oluwaseun Sonde

The Executive Governor of Lagos State Babajide Sanwo-Olu has said Lagos as the commercial centre of the country, the government is offering incentives to businesses that employ large number of people to avoid job loss.

He made this known on his official social platform on Friday, he said Lagos State Government is having conversations with different sectors on the requirements they need to ensure they do not retrench their staff and 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 added that in government’s plan to re-open the economy, businesses will follow Register-to-Open guidelines with protocols that workplaces must put in place. “This and more are some of the things I spoke about earlier today as a panelist in a webinar discussion organised by FSDH where I gave a frontline account of how Lagos has worked to combat the COVID-19 pandemic and how we are now working to open up the economy”.

He said Government has caught between managing hunger and sustaining an economy that is not only dependent on commercial activities in Lagos alone but also in other states. “We are at the stage where we have to balance public health safety and the economy that affects the well-being of the people.

“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.

He also said 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.

“We are trying to balance the reactivation of the state’s economic activities and our response in containing COVID-19. We are committed to tackling this virus and breaking the cycle of transmission but we must all do our parts, take responsibility and comply with the guidelines”, he warned.

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