Lagos State Government has disbursed a sum of N940 million to individuals and businesses under the MSME Recovery Fund.
Lagos State had set up the Fund to provide financial support for businesses in the state whose properties and assets were vandalised during the #ENDSARS protests that rocked the nation last October.
Announcing the figures yesterday, the Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke said the owners were supported with grants ranging from N50,000 to N5 million to rebuild their businesses.
She said the total number of beneficiaries was 1,835.
In the process, she added that 10,005 direct jobs and 40,029 indirect jobs were saved.
Also, the commissioner said the Lagos State Employment Trust Fund supported over 14,646 small businesses and created more than 123,720 jobs.
Under the Fund’s loan programme, the Commissioner said businesses were given financial assistance valued N250,000, N500,000 andN5 million respectively.
