Naira, Fuel Scarcity May Destabilize Nigeria – Akeredolu

The Governor of Ondo State, Rotimi Akeredolu, has urged President Muhammadu Buhari to take urgent steps to address the scarcity of naira notes and petrol price hikes.

Naira, Fuel Scarcity May Destabilize Nigeria - Akeredolu

The petrol crisis and scarcity of naira notes have sparked demonstrations in different parts of the country.

At a meeting with fellow governors belonging to the All Progressives Congress (APC) on Friday, the President reportedly sought seven days to make a “major decision” regarding the naira note scarcity.

In a press release issued on Friday, Governor Akeredolu warned that if the current state of affairs is not properly managed, it could lead to severe and far-reaching consequences.

He stressed the urgency of the situation, stating that it cannot be allowed to persist as it has the potential to destabilize the country.

The Governor emphasized the need for the President to take swift action and ensure that the necessary measures are put in place to mitigate the effects of the petrol crisis and the scarcity of naira notes.

He further stated that the impact of these issues is being felt by the masses, who are struggling to make ends meet in the face of rising prices and reduced access to cash.

“The struggles and actual fights recorded in banking halls, ATM and POS points, and markets across the country are disquieting.

“The choice of this period for the implementation of a policy, which bears an instant negative impact with no discernible mitigation in sight, raises serious suspicion of partisanship on the part of the CBN,” the statement reads.

“The ordinary people are the victims. Depositors can no longer access their monies even to feed their families. Hunger is not the anticipated result of a monetary policy.

“While no reasonable person will contend with the decision of the CBN to discharge its statutory functions, the plight of the downtrodden must, however, be considered. The majority of Nigerians groan, at present, under the crushing weight of these crises.

“There is pervasive discontent in the land and unless some urgent redemptive steps are taken to ameliorate the debilitating effects of seeming desultory and nonchalant disruptions of their normal simple lives, a series of events with unpleasant consequences are inevitable.

“There is palpable anger engendered by frustration in the land. The wave of discontent increases with unbelievable rapidity across the country.

‘The current hardship being experienced by the ordinary people forebodes unpleasant consequences. These crises may set in motion a chain of events the end of which is better imagined.

“The Federal Government must make a categorical pronouncement on the availability of petrol and its price since it is the general belief that the country still pays humongous amounts as subsidy.

“A situation which permits a few individuals to inflict pain on the populace, seemingly without check, is deplorable.

“The CBN Governor, Mr Godwin Emefiele, must come clean on the new monetary policy. Nigerians are practically buying the country’s currency to feed when we are not in a state of war.

“The fact that the ruling party hopes to present candidates for election in the general elections in the coming weeks accentuates the level of suspicion as regards the possibility of having certain elements whose interests stand at variance with the general aspirations of the party and its committed members.

“There is no better way to de-market a brand than this ruthless execution of a pernicious motive. The Federal Government, through the President (Muhammadu Buhari), must act now.”

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