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HomeBusinessCACOVID Reveals Measures To Rebuild Nigeria’s Economy, To Refurbished Damaged Police Stations

CACOVID Reveals Measures To Rebuild Nigeria’s Economy, To Refurbished Damaged Police Stations

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Following the aftermath of the #EndSARS protest that took place in several parts of the country which led to the vandalization of private and public assets, Coalition Alliance Against COVID-19 (CACOVID) has revealed that it has held series of meetings towards developing measures that will support the government’s efforts in rebuilding confidence in Nigeria’s economy.

Some of the measures according to CACOVID include the extension of relief measures from Banks and financial institutions through concessionary loans to affected businesses and firms, so they can rebuild and restock their stores and continue to conduct their business activities, the rebuilding and refurbishing of the damaged police stations during the protests and many others.

These measures were contained in a statement released by the coalition recently.

“As we are all aware, the aftermath of the EndSARS protest that took place in several parts of the country in October 2020, led to the vandalization of private and public assets, which includes business houses, shopping malls, banks, and police stations. Many small and medium scale businesses that were affected have struggled to resume full business activities.

In addition, the provision of security which is essential to the conduct of business activities has been hampered due to the damage of 44 police stations across the country. If left unattended, this situation could undermine confidence in our economy and derail the efforts of the government in enabling faster recovery of the Nigerian economy, following the impact of COVID-19.

As a result, the Bankers Committee and critical stakeholders in the private sector, under the auspices of the CACOVID alliance, held series of meetings towards developing measures that will support the government’s efforts in rebuilding confidence in our nation’s economy. Some of the measures agreed upon by the CACOVID alliance include;

Banks and financial institutions would be required to extend relief through concessionary loans to affected businesses and firms, so they can rebuild and restock their stores and continue to conduct their business activities” the statement reads.

CACOVID also revealed its commitment to fully rehabilitate all 44 damaged and destroyed police stations nationwide in a bid to restore the provision of security in affected locations.

“To further strengthen the security apparatus in the country, CACOVID has committed to providing over N100bn to procure equipment and gadgets for the Nigerian Police Force over the next 2 years; as our contribution to fully modernize the Nigerian Police.

Our preliminary analysis indicates that unemployment particularly amongst the youth was a critical factor behind the unrest. As a result, CACOVID has committed to creating a high impact youth development program that will provide technical and vocational education to over 4 million Nigerian youths over the next 5 years. Students will be trained on craftwork, plumbing, masonry, carpentry, and other artisanal related skills for which sufficient demand exist in Nigeria. Over N150bn is expected to be deployed towards the setup and implementation of the youth development program, which will be available at select training centers across the country” the statement said.

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