Moshood Adebayo
The Lagos State Government has hinted that it is considering reordering the N1.17 trillion budget for 2020 to channel funds into ventures that will generate quick employment and resources for Lagosians.
Commissioner for Economic Planning and Budget, Mr. Sam Egube, made the disclosure during an inter- ministerial briefing yester- day. He lamented the ravaging pandemic had slowed down the growth of the State’s economy, shut down industrial production and distorted the supply chain of essential items, thereby heightening the fear of food insecurity among residents.
“We have started to put together post-COVID-19 response and stimulation plan to ensure our business continuity plan is riding after Coronavirus. We are going to look at enterprise; that is, Small and Medium Scale businesses that have the capacity to generate quick revenue and employment. All these economic stimulus packages will be rolled out when we have clarity on the slowdown of the spread of Coronavirus in the State”.
“We will be looking at the construction sector and agriculture, empowering of people with vocational knowledge and skills. We believe these investments will stimulate growth and set the economy of the State on a powerful rebound for more prosperity,” he said.