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Yoruba Obas Condemn Fuel and Redesigned Naira Scarcity

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Yoruba traditional rulers under the aegis of the Yoruba Obas Forum have condemned the continuous scarcity of Premium Motor Spirit (Petrol) due to the inability of the Nigeria National Petroleum Corporation Limited (NNPCL) to check the situation for the past months and nip it in the bud.


This is contained in a statement issued after a meeting of its executives held in Ibadan, Oyo State on Friday 3rd February, 2023.


The statement was signed on their behalf by the Administrator of the Forum, Oba (Dr) Michael Odunayo Ajayi, the Elerinmo of Erinmo by the Molokun of Atijere President of the Forum, Oba Samuel O. Adeoye, the General Secretary of the Forum and Olukotun of Ikotun-Ile, Oba.


In the statement which was made available to journalists on Saturday, the traditional rulers also decried the current difficulties encountered by their people in getting the new naira notes as well as non availability of the currency while recommending immediate resolution to the hardship by the government.


According to these Yoruba Obas who cut across all South West states and some North Central states during their meeting in Ibadan, Oyo State on Friday “we are using this medium to call on the government to urgently find immediate and lasting solution to the current hardship facing the entire people of Nigeria through the scarcity of petroleum products and non availability of new naira notes.

The current situation has forced traders to increased the price of their products while it has also affected commercial transportation which is bouncing back on the masses.

“Even the current situation has forced most traders to lock their shops die to their inability to trade and in a bid to avoid collecting the old notes, which were still largely in circulation”.


The statement further affirmed that the cash crunch has affected lots of Nigerians in the rural areas whose major means of getting cash is through POS operators most of whom have now been squeezed out of business leading to excruciating hardship for the vast majority of our people.

Understanding that a vast majority of Nigerians operate in the informal sector during petty trade and without the level of literacy to handle non cash transactions, this cash crunch has literarily shut their operations down with ripple effects on millions.

Others at the meeting include; Dr. Abdulrasaq Adebayo Abioye, the Forum PRO and Alayandelu of Odo-Ayandelu, Oba (Bldr) Asunmo Ganiyu Aderibigbe, the Forum’s Financial Secretary and Olasole of Lasole, Oba Dairo Jacob Olufayo, the Olujumu of Ijumu Kingdom, Oba Williams Olusegun Ayeni, the Ologijo of Ogijo, Oba Kazeem Gbadamosi, the Onilekki of Lekki, Oba Liasim Olumuyiwa Ogunbekun and the Alagbado of Agbado, Oba Adedayo Shyllon Sogbulu.

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