EndSARS: CACOVID Plans N290bn Intervention To Rebuild Properties Destroyed By Hoodlums

The Coalition Against Covid-19, formed to back the Nigerian government to mitigate the virus shock, said it will commit N290bn to rebuild properties and aid businesses destroyed during the hijacked #EndSARS protest against police brutality.

Most of the funds will be committed to creating jobs for youths, the coalition said.

The coalition comprising the Bankers Committee and key stakeholders in the private sector disclosed this on Wednesday in a communique sent to THE WHISTLER.

The #EndSARS protest that took place in October 2020, led to the vandalization of private and public assets, which includes business houses, shopping malls, banks and police stations, with experts linking the violence to unemployment.

The coalition in the communique noted the destruction of 44 police stations, saying it would be a threat to the economy “If left unattended.”

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

Based on CACOVID’s preliminary analysis, unemployment particularly amongst the youth was a critical factor behind the unrest.

The coalition said  it committed to create a high impact youth development program that will provide technical and vocational education to over 4 million Nigerian youths over the next 5 years, a project which will cost N150bn.

For this category, the coalition revealed that the ultimate objective was to provide young Nigerians with employable skills sets that will enable them to live a gainful life.

“We believe this initiative can lead to the creation of over 4m jobs over the next five years. So far, over N25bn will be domiciled in a fund to support these entrepreneurial pursuits, which would also include acquisition of related equipment to conduct business activities,” said CACOVID.

The coalition further disclosed that out of school graduates that possess entrepreneurial skills, will benefit from a N40bn intervention project, as it will drive to complete the creative center at the National Arts Theater area of Lagos in four select areas namely.

The skills required to benefit from the intervention are in areas including ICT and software design / development, Fashion, Music and Movies.  

The coalition added, “Given the impact the unrest had on the conduct of business activities, members of CACOVID has committed to develop a business continuity plan, that will enable businesses and firms to share timely information and resources to forestall physical or cyber-attacks, which could derail the smooth functioning of business activities in the country.”

In the response to Covid-19, the coalition said it realised N39.6bn from 200 donours, while it incurred expenses amounting N43.27bn on the acquisition of medical equipment and supplies, food palliatives for the vulnerable and communication plan.

On food relief, CACOVID said it spent N28,76bn on eight million Nigerians, while it spent N9bn on medical supplies.

Also the coalition spent N4,194,262,899 in Building Isolation Centers across the country.