Lagos State Government designates N1bn naira for the hospitality sector

Lagos State Governor Babajide Sanwo Olu

…As Covid 19 Bailout Fund

The Lagos State Governor Babajide Sanwo Olu says one billion naira grant has been designated for the hospitality sector in the State as part of Covid-19 bailout.
The Governor who announced this at the 6th edition of the Lagos State Corporate Assembly, tagged “BOS Meets Business” held at the Lagos House, Alausa, Ikeja noted that the fund will however be accessed through the Lagos State Employment Trust Fund.
Governor Sanwo-Olu who assured the Organised Private Sector ( OPS) of a business friendly environment said measures are already being implemented to ensure that, including tax returns on Covid-19 donations, waivers of penalties on annual tax remittance and the signing of a new land use charge law with a 48 percent reduction in the 2018 payment of the charge.
He reaffirmed his administration’s commitment to improving the lot of business entities in the state including the micro, small and medium enterprises adding that the state was also collaborating with the Central Bank of Nigeria for additional monetary support for members of the Organised Private Sector.
“We have also commenced the laying of fibre optics cable for faster and stronger internet connectivity and the issue of multiple taxation which has been recurring will be addressed as a list of approved taxes will be published on our website. We will make sure that you continue to do well because it is only when you do well that Lagos can do well” He said.
The Organised Private Sector, OPS, including the Manufacturers Association of Nigeria, the Lagos Chambers of Commerce and Industry and its national counterpart, NACCIMA, SMEDAN and Nigeria Employers Consultative Association, who were represented at the meeting commended the State government for the various measures already implemented and also appealed on issues of taxation, bad roads and unhealthy attitude of some government officials and a review of the 10 pm curfew imposed because of Covid-19.
The Senior Special Assistant to the Governor on Health, Dr Oreoluwa Finnih made presentation on the State Government’s covid-19 response, while the SA on Sustainable Development Goals, Mrs Solape Hammond x-rayed reforms to boost ease of doing business in the State.
In a remark the Commissioner for Commerce Industry and Cooperatives, Mrs Lola Akande said that all the issues raised during previous meetings had been resolved by the relevant government Ministries and Agencies.
Source: Monitored.