Advised on insuring businesses
By Muhammad Tanimu
Abuja
The Chairman, Federal Capital Territory (FCT) Ministerial Assessment Committee on EndSARS protest Damages, Idris Abbas, has called on the business community within the territory, especially Manufacturers in Idu Industrial Area, to always insure their businesses with credible insurance organisations.
Abbas who received submission from some of the victims of the protest, noted that insurance companies can always provide succour when government is unable to compensate adequately for loses, noting that the minister was disturbed by the level of looting and destruction that followed the EndSARS protest, and advised on the option of taking insurance covers for businesses against unforeseen circumstance.
He noted that while the government would always encourage businesses to grow in the territory, economic crunch might make it impossible for governments to adequately compensate for losses.
Meanwhile, Manufacturers Association of Nigeria ( MAN) yesterday said its members in the Federal Capital Territory (FCT) lost about N1.5 billion to hoodlums.
Chairman, MAN FCT Chapter, Odun Emasealu , who made this disclosure when he appeared before the Committee on EndSARS protest, said that about 12 factories and 4 warehouses were completely looted by the hoodlums.
He noted that the entire Idu Industrial Area was ransacked by the hoodlums in search of palliatives.
Emasealu said members of the association were yet to recover from the trauma that followed the looting spree that has not just shut down their businesses, but heightened insecurity within the Idu industrial area.
According to him, there was no government palliatives warehouse in the area, yet the hoodlums attacked security operatives to loot their private factories.
He appealed to FCT Minister, Mallam Muhammad Bello to beef up security within the industrial layout, in order for the manufacturers to get back to business without the fears of being attacked again.
” Our members lost assets worth over N1.5 billion as 12 factories and 4 warehouses were completely looted.
” Industrial machines, factories and other buildings were vandalised. Our concern is that it is difficult to replace the looted machines due to the cost”, Emasealu noted.