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Kwara to Support Looted Businesses With N500 Million

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Kwara State to Fund Looted Businesses With N500 Million

Kwara State has joined the list of states supporting businesses that were looted and vandalised by hoodlums masquerading as #EndSARS protesters.

Mr. AbdulRahman AbdulRazaq, the Governor of Kwara State, during a visit to the Kwara Mall and Agro Mall on Saturday said the state will support affected businesses with N500 million, adding that the funding is to reduce the negative impact of the looting on the state economy.

On Sunday, in a statement issued by the governor’s Chief Press Secretary, Rafiu Ajakaye, the Governor said the vandalism and looting may bring several businesses to their knees and lead to massive job loss with an increase in poverty rate.

He said, in order to avoid this, “We are setting up a N500 million fund for those that were affected to access.”

“The application form is live and active on the state government’s website and can now be filled by interested parties. We are going to get them back as soon as possible,” he assured.

The governor, who described the situation as a mindless looting of people’s businesses, said there can be no justification for such criminal behavour in our society and commiserated with affected owners.

Speaking on accusation of hoarding of palliatives, the Governor said the palliatives were donated by Private sector led CACOVID to specific vulnerable households and were being distributed gradually across the state.

What happened was bareface stealing and some people are playing politics with it. This is not the time to play politics. It is a time for all hands to be on deck. It is not just Kwara they wanted to burn down. They wanted to burn the whole country down. I urge all of us to stand up and resist that,” he said.

“We engaged the #EndSARS youth in Kwara and it worked out for us. They were not violent. They had a five-point agenda which the federal government has agreed to and has started implementing. In Kwara State, we have also set up a judicial panel of inquiry to look into the allegation of Police abuse. I also visited Police barracks to see how we can improve the welfare of the Police in the state.

“While the hoodlums were looting (on Friday), I was holding a meeting with executives and members of the National Association of Kwara State Students and National Association of Nigeria Students, Kwara axis. It shows students and youths were not part of the looting. Those involved were just hoodlums and thieves,” he said.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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