Vice President Yemi Osinbajo has formally launched the Rebuilding of Lagos Trust Fund with a call on private sectors and others to join in rebuilding Lagos.
The eight-man Lagos Trust Fund committee is chaired by Yemi Cardoso, Chairman, Citibank Nigeria.
Speaking at the formal Launch, Osinbajo described the destruction of lives and property has a national tragedy and big setback for the nation.
He lamented that Lagos Port which generates most revenues for the nation was attacked, among several others, saying that in this darkest hour, there is cloud of silver lining.
“We have seen how EndSARS can be subverted and led to the exact opposite, we saw what can happen when anarchy occur. It is important we thoroughly investigate the deep construct that led to the carnage,” he added.
READ ALSO :Sanwo-Olu Signs Executive Order For Rebuilding Lagos
According to Osinbajo, “it is now time to rebuild Lagos, it is now time for private sector and others to rebuild. My President has said he would await report from Governor Babajide Sanwo-Olu to act, we are working with the National Assembly to jointly rebuild Lagos.”
Osinbajo said the assistance to be rendered by the Federal Government is for the part of the country affected by the violence, but noted that Lagos has to take the bulk because of the massive devastation that occurred in the State.
The Vice President said the reconstruction of Lagos and others goes beyond bricks and mortal, but to rebuild trust between the government and the people.
According to Osinbajo, the nation is in need of healing, which was why President Buhari approved judicial panel of inquiry, adding that the Lagos panel has the mandate to investigate Lekki shooting.
Earlier in his remark ,Governor Babajide Sanwo-Olu stated that the October violence has led to the loss of billions of naira.
“The violence has no doubt set our economy back by tens of billions of Naira and impacted our confidence,” he told the meeting.
The governor added, “Beyond the physical and economic impact, there has also been the psychological damage; the fear, the terror, the helplessness that all of the victims have felt, the questions about how or where do we start from?”
READ ALSO; Sanwo-Olu’s Open Letter To Lagosians
According to him, the violence is the most widespread carnage Lagos has seen in decades and the level of destruction was worrisome.
“Every aspect of life and livelihood in Lagos was affected – government buildings offices, public monuments, and historical archives, public infrastructure like our BRT buses, and, very sadly too, private property and investments – malls, shops, small businesses, residences and many more,” Governor Sanwo-Olu told the forum.
He, however, noted that the state has found hope and great strength in the offers of assistance from various individuals and groups, which culminated in the constitution of the Lagos Rebuild Committee to coordinate the government’s efforts to rebuild and upgrade the state.
The governor stressed that following the violence, the state would bounce back and emerge stronger.
He said, “Here is a city that emerged from the most unpromising beginnings, out of the gloom of a sprawling lagoon and malarial swamps.
“By dint of hard work, entrepreneurial energy, and creative excellence, everything we see and hold dear today was built, over the centuries. In that time there have been setbacks and challenges of various kinds.”
“The most prominent ones include the Royal Navy bombardment of 1851, the Influenza epidemic of 1918, the Bubonic Plague of the 1920s, even the loss of Federal Capital status that many assumed would severely downgrade the state.
“Most recently, we also faced and defeated Ebola in 2014, and the coronavirus pandemic of 2020 – in both cases, Lagos was the Nigerian epicentre,” Governor Sanwo-Olu stated.
Sanwo-Olu said transparency and accountability would be foundational elements in the implementation of the mandate of this Committee, saying for this reason, the fund-raising and disbursement would have oversight from First Bank of Nigeria Trustees Limited.
READ ALSO: Sanwo-Olu Unveils First Electric Car
“Along with the Board they will ensure that there is maximum accountability and value recorded for every Naira raised. In this rebuilding process we will be asking ourselves some necessary questions. For example, we will seriously be exploring the use of technology to improve urban security and better safeguard all that we hold dear, and to digitally preserve historical archives that until now have existed only in physical forms. We have a duty, in rebuilding, to ensure that the new which will be replacing the old is fitting for the 21st century.”
