The Speaker of the Lagos State House of Assembly, Mudashiru Obasa, declared in Ikeja on Tuesday that the October #EndSARS protests devastated the Lagos State economy.
Obasa made this known when Governor Babajide Sanwo-Olu presented the state’s 2021 budget to the Assembly.
Lagos State plans to spend N1,155,022,413,005 in the 2021 budget entitled: “Budget Of Rekindled Hope’’.
The Speaker said that the devastating effects of the disruptions that followed the #EndSARS protests in Lagos were beyond imaginations.
“The anarchy, burning, and looting of businesses have hit the economy with a blow beneath the belt.
“At the backdrop of the destruction of public and private properties and businesses in the wake of the #EndSARS protests, businesses have been counting their losses.
“Also the replacement cost to Lagos State government, which is the worst-hit by the protest is put at N1 trillion. The overall cost to private businesses has been put at several billions of dollars,’’ he said.