Unrest in Ibadan as anger grows over fuel and Naira notes scarcity
A wave of anger is sweeping across Nigeria over the lingering fuel scarcity and inability of citizens to get the redesigned Naira notes which has been spreading hardship among the populace.
Youths in Ibadan, the Oyo state capital, took to the streets on Friday, February 3, 2023, to protest the hardship being faced by citizens.
Across the country, Nigerians are facing hard times over the scarcity of fuel and Naira notes as well as poor power supply.
Prices of commodities and transport fares are also soaring, and citizens inability to get money from the bank is sparking outrage across the country.
Since October 2022, Nigerians have been dealing with hike in fuel price and long queues at filling stations.
In some parts of the country, fuel now sells for over N300 per litre against the official N185 – the new official pump price activated by oil marketers in January 2023. The oil marketers claimed the new pump price was approved by the Federal Government to encourage marketers to open up for business but the Minister of State for Petroleum Resources, Timipre Sylva, denied the claim.
The redesigned ₦200, ₦500 and ₦1000 released by the Central Bank of Nigeria in December 2022 is also contributing to hard times. The initial directive of the CBN to banks not to pay customers the new notes over the counter but only through ATMs stalled the circulation of the notes and has made it difficult for the new notes to get into the hands of Nigerians.
Although the CBN, on Thursday, February 2, 2023, instructed banks to start paying the new notes over the counter, banks are still complaining that they do not have enough to satisfy customers’ demands.
While Nigerians are finding it difficult to get the new notes to meet their daily needs, there are also widespread reports and complaints about failure of alternative channels – internet banking, mobile banking apps, USSD and POS.
Youths in Ibadan on Friday took to the streets to protest the lingering crisis.
A citizen reporter at the scene of the unrest told Neusroom that there were protests in Agodi where the Governor’s office and other government offices are located and Iwo Road where one of the busiest motor parks in the state is located.
In videos sent to Neusroom, protesters blockaded and set fires on roads.
“There’s no money. We are angry,” one of the protesters at Iwo Road could be heard chanting.
Another group of protesters also vandalised properties at the Governor’s office in Agodi.
“People are angry and mad about the state of the country,” an Ibadan resident told Neusroom on Friday. “The fact that they can’t get money from the bank, no fuel, and no light.”
The Oyo Police PRO Adewale Osifeso in a statement sent to Neusroom said the Police gathered through intelligence that “certain unscrupulous elements have perfected plans to hijack the process, escalating the situation into full scale chaos by shutting down and attacking places of interest which includes but not limited to INEC facilities, Banks, Media houses, Schools, Correctional Centers and other critical infrastructures inclusive of looting major malls and business centers within the State.”
Osifeso advised the youths to avoid being used by agents of violence.
President Muhammadu Buhari on Friday, February 3, 2023, asked Nigerians to give him seven days to solve the crisis.
“I am aware of the cash shortages and hardship being faced by people and businesses, on account of the Naira redesign. I want to assure that we are doing everything to resolve these issues. Nigerians should expect significant improvements between now and the February 10 deadline,” Buhari said in a statement after meeting with a delegation of Nigerian governors.
