EKO NEWS
Naira Scarcity: Sanwo-Olu Directs 50% Reduction On Public Transport, Provides Food Palliative
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Most Nigerians have been struggling to access naira notes for some weeks due to the CBN’s plan to phase out old naira notes.
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The naira scarcity has been a source of hardship for millions of Nigerians across the country, including Lagos State.
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The situation spurred the Lagos governor to announce palliative measures for residents.
Eko Hot Blog reports that the Lagos State Government has announced palliative measures to cushion the effects of the lingering fuel and cash shortage on residents.
EDITOR’S PICKS
Governor Babajide Sanwo-Olu, on Wednesday, directed 50 per cent fare reduction in all state-owned transportation services, effective Thursday.
Passengers using BRT buses, LAGRIDE taxi-scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY) will enjoy the palliative for the next one week, using their Cowry Cards, according to a statement by Sanwo-Olu’s spokesman, Gboyega Akosile.
The governor also gave express permission to all fuel stations operating within Lagos to commence 24-hour operations to allow residents buy fuel without having to stay in queues for hours.
The controversy over the CBN currency exchange deadline, Sanwo-Olu said, has had dislocation effect on Lagosians, limiting their access to cash for daily transactions and making their means of sustenance difficult.
He announced establishment of food banks in various parts of the State for distribution of food items to vulnerable families hit by the lingering crisis.
“I have found it necessary to address the good people of Lagos, following some event in our dear country. The currency exchange and the fuel situation have, no doubt, raised the tension in the land,” Sanwo-Olu said.
“I commend our dear citizens for your patience and understanding in the face of hardship that you have experienced in recent days. Your resilience has been remarkable. You stand firm in demonstration of your confidence in our ability to protect your interest in these difficult days.
“The current situation has had telling effects on States and we have taken some steps to cushion the effects on your wellbeing. To support you in weathering these stormy days, I hereby announce a 50 per cent cut in fares on all our BRT buses, LAGRIDE taxi-scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY). This will take effect from tomorrow (Thursday) for the next seven days. We will push out more Cowry Cards to enable more Lagosians get onboard our services.
“I have also directed that food banks be set up in various parts of the State to cater for the vulnerable. We have identified stakeholders and organisations that will help distribute food stuff to the vulnerable people in various communities hit by the current situation.
“By this, we are not out to solve the entire economic crisis created by the currency swap programme, but we understand this is a difficult moment for vulnerable individuals. The relief will help until normalcy is restored.”
Lagos state Governor, Babajide Sanwo-Olu, and other government officials at a press conference
The governor disclosed that the state government had suspended the ongoing construction work on Buba Marwa Road, the dual carriageway leading to tank farms in Ijegun Egba from where 40 percent of petroleum products are transported to other parts of the country.
He said the road, which is about 50 per cent completed, will give unhindered access to petrol tankers to transport products to filling stations, thereby increasing supply of petroleum products.
Also, Sanwo-Olu hailed the Supreme Court for its pronouncement on the currency exchange crisis, stressing that the apex court’s “wise intervention” on the matter would help douse the nationwide tension.
FURTHER READING
The apex court had ordered the CBN not to implement its February 10 deadline for phasing out the old naira notes pending a hearing on the matter.
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