Security, the availability of stimulus packages for businesses, and the need for more robust banking operations topped concerns of Chief Executive Officers (CEOs) who participated in a virtual meeting with Lagos State government on Wednesday, April 15.
The engagement, the second of such to address concerns of businesses operating in the state under lockdown, was led by state Gov. Babajide Sanwo-Olu, supported by the Commissioner of Finance, Rabiu Olowo while Timothy Olawale, DG NECA coordinated private sector participants.
Key worries of Business Leaders in the state included the state of security, availability of palliative and stimulus package for businesses, constraints imposed by banks skeletal operations, low publicity of the 28 emergency markets set up in different schools, challenges from customs services and police excesses, among others things.
Tracking COVID-19 in Nigeria
Total Coronavirus Cases, Apr 18
542
Total Coronavirus Deaths, Apr 18
19
Year-to-Date change in NSE ASI
-15
Balance in Excess Crude Account, Dec 2019 (million)
$70
Brent Crude ($ per barrel)
28
ON SECURITY:
Lagos State government said there will be immediate deployment of additional presence and patrol (24/7) of Mobile policemen, the Military and paramilitary personnel in Lagos State.
The government encouraged businesses to be more security conscious and take pro-active steps to protect their staff and properties.
ON BUSINESS CONTINUITY ISSUES
The LASG said it would consider a review of the lock-down situation after 7 days.
“Strategic relaxation of the lock-down may be implemented. However, more access will be given to businesses as more lock-down relaxations are instituted,”it said.
The Governor said he would speak to the CBN Governor to address the issues of charges on cash deposits and cheque clearing, especially during the lockdown period.
Lagos assured more assistance would be given to organizations involved in packaging to enable them support other essential sectors.
The Governor also said he would speak to the MD of NPA with the view of fast-tracking clearance of essential raw materials.
The Governor promised to speak to his colleagues in the Governor’s Forum to facilitate ease of access for businesses in their States.
ON PALLIATIVES:
According to LASG, there is on-going engagement with over 200 local food vendors in Lagos to provide at least one meal a day to people in densely populated neighborhoods.
Government said it has identified religious and political leaders in all LGAs and LCDA to serve as distribution points for bulk food stuff. This is to decentralize the food distribution activities of the LASG and also complement the efforts.
“Data collection is ongoing using the TELCOS and other means with the view of facilitating cash-transfers to youths and residents of Lagos State,” said Lagos.
It added that free treatment of pregnant women at all State hospitals is on-going.
Interest waiver for 3 months for all SMEs and MSMEs under the Lagos State Employment Trust Fund, Lagos said.
Governor Sanwo-Olu said all arrested and impounded vehicles during the period of the lockdown will be released at the end of the lock-down without payment of any penalty / free of charge.
Day-to-day food delivery to the most vulnerable and elderly is still on-going.
CONCLUDING REMARKS BY THE GOVERNOR
• The Governor sought assurance from the Business community that:
– Supply and distribution of essential goods and products will continue
– Businesses were urged to ensure stability of prices during this critical period and post covid 19 period as the purchasing power of the masses would likely be weak / adversely impacted by the scourge
– Businesses should as much as possible also endeavour to ensure Job security is guaranteed.
• The Governor will be open to further collaboration and suggestions(in writing) from organized businesses on how to drive growth and development in Lagos State.
• The Government has set up Post-Covid 19 Economic Stimulus Agenda with the view of fast-tracking economic recovery.
• The Governor will invite organized businesses to a Breakfast or Lunch session within one month after the Covid 19 pandemic to discuss and review how to strengthen the collaboration.
• He thanked the management of Nigerian Breweries for making available the ICT infrastructure to drive the meeting.
SOURCE: BUSINESS DAY
