Lagos State governor, Babajide Sanwo-Olu has inaugurated the $20million Lagos COVID-19 Action Recovery and Economic Stimulus Programme.
The Stimulus was meant to support poor and vulnerable households.
According to the governor, the move was pertinent in order to combat the negative impact of the pandemic on livelihood, food security and economy.
TOS News learnt that the covid-19 stimulus, under Lagos CARES Programme will support 125,058 individuals, cover 69 markets and a minimum of 2,512 MSMEs will be supported.
The programme which will be implemented for 24months is being funded through $750million facility secured by the federal government from the World Bank,out of which other states are beneficiaries.
Sanwo-Olu said Steering Committee has been set up for effective implementation; it will be headed by Commissioner for Economic Planning and Budget, Sam Agube.