The Lagos State government has earmarked N1 billion grant to the hospitality industry in the state as part of COVID-19 bailout for the sector.
The state governor, Mr. Babajide Sanwo-Olu, disclosed this yesterday during the 6th edition of the Lagos State Corporate Assembly, tagged “BOS Meets Business” held simultaneously at the two banquet halls at the Lagos House, Alausa, Ikeja.
According to him, the fund would be accessed through the Lagos State Employment Trust Fund, (LSETF).
Representatives of the Organised Private Sector who attended the interactive meeting which was the first to be held by the Sanwo-Olu administration commended the state government for continuing with the meeting.
Members of 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, were represented at the meeting which was also attended by the state’s deputy governor, Dr. Obafemi Hamsat, and other top government officials.
Responding to requests made by members of the business community, Governor Sanwo-Olu listed measures already being implemented to ensure
a business friendly environment to include waivers of penalties on annual tax remittance, tax returns on COVID-19 donations and the signing of a new land use charge law with a 48 percent reduction in the 2018 payment of the charge.