Lagos State Governor, Babajide Sanwo-Olu has said that the dusk-to-dawn curfew imposed on the state by the Federal Government will be reviewed.
Sanwo-Olu said this at the 6th Lagos Corporate Assembly held at the Banquet Hall in the State House, Alausa.
He said the review was in response to requests by businesses across the state, noting that the ongoing rehabilitation of major bridges and roads had impacted business activities in the State.
The Governor also said the State would also be collaborating with the Central Bank of Nigeria (CBN) to further create access for fund to support the hospitality business.
He disclosed that the State had started the first phase of the 6,000km optical fibre being laid across Lagos, with the aim of providing technological infrastructure to support MSMEs.
He said: “We have just given approval for N1 billion support that will be given out through the Lagos State Employment Trust Fund to support hospitality business in the State. The beneficiaries of this fund will go through screening in line with the requirement of the agency. We are making this investment because of the huge potential for job creation and inclusive growth this sector can bring about.
“We will be working with the CBN for more funding to fully develop the potential of our tourism sector. This effort is being completed with the rolling out of 3,000 km optical fibre across the State to provide technological infrastructure for the MSMEs whose operations would depend on fast Internet networks to drive their businesses.”.
Sanwo-Olu said the repeal of 2018 Laws on Land Use Charge was to further create incentives for more growth in the corporate sector, stressing that the new Land Use laws had addressed controversial provisions and remove ambiguity in the levies paid by companies in Lagos.
He granted a three-year waiver on penalty for those that defaulted the payment of land use charge from 2017. He also offered a 25 per cent discount for those who make early payment of the Land Use.
“We are granting a waiver of three years in late payment, which covers 2017, 2018 and 2019. We are also giving 25 per cent special discount on early payment. By this, we have achieved a 48 per cent reduction for businesses in chargeable rates by repealing the 2018 Land Use Laws.
“We are taking these steps to show that we are not being insensitive to the plight of businesses and residents, especially in this period of pandemic that have slowed down activities. We have been doing everything possible to make sure businesses are not choked by taxes,” he said.