The President, Major General Mohammadu Buhari (retd) on Thursday was silent on fuel scarcity during his nationwide address to Nigerans.
Punch Metro reported that the president addressed the naira crisis caused by the Central Bank of Nigeria’s naira redesign in address on Thursday.
The President ordered that the old N200 note would be allowed as legal tender while the N500 and N1000 will cease to be.
He said that the old N200 should also be allowed to circulate as legal tender with the new N200, N500, and N1000 banknotes for 60 days from February 10, 2023 to April 10 2023 when the old N200 notes ceases to be legal tender.
The President’s speech is coming after several protests took center stage in the country leading to destruction of lives and properties.
Amid the currency crisis, there has been a steady increase in the price of premium motor spirit which has caused long queues at filling stations across the nation.
The pump of petrol which was selling between N162 to about N170 per litre prior to last year, suddenly started moving up to N200 per litre when the first disruption in the petrol supply and distribution system occurred in the first quarter of 2022 due to the importation of adulterated petrol into the country by the Nigerian National Petroleum Company Limited and its partners.
Ever since, the country has not recovered from that event as the product scarcity and racketeering have ensured unavailability of the product till date.
At the moment, a litre of fuel sells for between N250 to N600 per litre depending on the location
FG’S 14-MAN STEERING COMMITTEE
Following calls by ordinary citizens and several stakeholders for the government to arrest the lingering fuel scarcity in the country, the President, Major General Muhammadu Buhari (retd), on constituted a 14-man steering committee on petroleum products supply and distribution management, which would be personally chaired by him.
Senior Adviser on Media and Communications to the Minister of State for Petroleum Resources, Mr. Horatius Egua, noted that the steering committee, which has the minister, Timipre Sylva as Alternate Chairman was expected to among other things, ensure transparent and efficient supply and distribution of petroleum products across the country.
However, while the government may be commended for finally waking up to the calls by Nigerians the functionality of the committee is yet to address the fuel scarcity.
INEC’s position on fuel scarcity
The Chairman of the Independent National Electoral Commission Prof.Mahmod Yakuku also raised concerns on the implications of fuel scarcity on the feb 25 general elections.
Yakubu in his words said ; “We’re mobilizing about 100,000 vehicles, and 4,000 boats for the deployment of personnel and materials to 176,846 polling units spread across 8,809 registration areas (or electoral Wards) in 774 local government areas nationwide”.
“The commission shares your concern about the fuel situation in the country and its impact on transportation on election day. The truth is that our arrangements may be negatively affected by the non-availability of products.”
