Lagos State Governor, Babajide Sanwo-Olu, has signed an executive order to establish the Lagos State Rebuilding Trust Fund.
He said the trust fund would look into rebuilding the state after suspected hoodlums destroyed public and private facilities in the state.
The governor signed the executive order at the Lagos House, Alausa, Ikeja, on Wednesday.
Among those present during the signing are Lagos State Deputy Governor, Dr. Obafemi Hamzat; and Attorney General/Commissioner for Justice, Mr. Moyosore Onigbanjo.
Buildings in Lagos were torched on Wednesday, October 21, and sporadic clashes erupted after the shooting of peaceful #EndSARS protesters by security forces at the Lekki toll gate.
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.