The OSCO team sympathies with Nigerians at this trying times where citizen have no access to their hard earned money and God given natural resources such as: petrol, Gas and Kerosene!
This was made known through a press release send in to theforesight.com.ng by the OSCO team, African Democratic Congress, (ADC) Ikorodu Constituency 1, Lagos Sate House of Assembly 2023.
Situation is at it lowest and calls for immediate attention and resolution. Our President recently spoke about the fuel situation and direct some agencies and other bodies to ensure fuel is sold at accurate price of 169 naira, till now citizens buy between N350 to N500 per litre without price control in place.
We have police division in almost every area yet the extortion exist, no report channel or mechanism to complain which indirectly seems the masses is being played. The NNPC Ltd or its rechristened baby have moved on as if the suffering is permanent. In the last two years, they have consistently reminded us of the need to wake up at 3am to fuel station queue which is not a guaranty you will buy before 1pm.
Despite NNPC claims of having enough fuel, the sabotage if true as shown clueless of governance as the saboteurs seems more powerful than our great government. This call for an urgent resolution as it has lingers so long since 2022 affecting prices of all commodities.
The recent Naira redesign has added more salt to the already injured wound of the fuel scarcity. How could a national policy not be thought well before implementation? Kudos to the House of Representatives but their intervention is yet to have effect.
The CBN mop up cash at a speed, it seems they are against our existence.
While many thought politicians are/or may be the target, many top politicians have banks owners and Managing Directors as friend and it will be more easy to get those cash to them than give the masses, so, who suffers? This confirm the greediness of our banks and the silent of CBN to shame name which also concretized and symbolized the questionable relationship between the regulator (CBN) and the regulated (banks).
Our people are turned to beggars due to naira scarce PoS operators have been sent out of business. Naira is now expensive to naira for exchange! You go to parties and find the new notes in abundance but scarce in banks.
Banks now reverse to pay dirty and stinking 50 naira and 100 notes to people. Businesses are collapsing and more racketeering is ongoing in our banks, riot has broke out in Ibadan, People have money but could not eat as no means to pay for services as Banks APPs also decided to join in the ‘shutdown’ protest.
To add to the cash issues, fuel stations who had hitherto uses PoS now demand excess cash, they stylishly permanent a PoS operator probably using their same PoS and demand citizen pay charges to them with 5,000 naira charges as up as 500 naira before the sell for cash. They in turn return same cash back to the PoS for exchange on and on.
We cannot continue like this. If you still think this is targeted at politician then you need to see an allegation or unconfirmed news of a political party moving billions of new notes from the CBN in our dailies. e.g. abujanetworknews 3rd of February, 2023.
While the cashless policy and naira design seems a very good one, the implementation needs to be reviewed so we don’t afflict the masses for what should benefit them.
The President has given seven days notice to intervein, we hope it gets better before this expires.