Lagos State Governor, Babajide Sanwo-Olu on Wednesday signed an executive order establishing the Lagos State Rebuilding Trust Fund (LRTF) at the Lagos House, Alausa, Ikeja.
He said the trust fund would be responsible for rebuilding the state after suspected hoodlums destroyed public and private facilities in the state.
Those present at the signing ceremony are the Lagos State Deputy Governor, Dr Obafemi Hamzat and Attorney General/Commissioner for Justice, Mr Moyosore Onigbanjo.
Recall that public and private properties and businesses were torched following the shooting of #endSARS protesters at Lekki Tollgate in Lagos on October 20, 2020.
The Speaker of the House of Representatives, Femi Gbajabiamila, had said Sanwo-Olu told him the state would need N1trn for reconstruction in the aftermath of the destruction caused by hoodlums who hijacked the #EndSARS protests.
The Lagos Chamber of Commerce said, in a statement, that estimated economic losses during the #EndSARS protests were at N700 billion.