Naira Swap, Fuel Price Protest Rocks Ibadan

The hardship brought on by the switch in naira notes and the increase in fuel prices has prompted Ibadan, Oyo State residents to take to the streets in protest.

The hardship brought on by the switch in naira notes and the increase in fuel prices has prompted Ibadan, Oyo State residents to take to the streets in protest.

Late last year, the Central Bank of Nigeria (CBN) unveiled newly designed N200, N500, and N1,000 notes and set a deadline of January 31 for the phase-out of the previous notes. After the reaction to the policy, the deadline was later extended by 10 days.

Despite the extension, it is difficult for Nigerians to obtain the old notes because they are in short supply.

Additionally, the cost of fuel at the pump has skyrocketed throughout the nation, with many consumers paying as much as N500 per litre for it. Many locations have seen a resurgence of lines that snake back onto major roadways.

As a result of the circumstance, some citizens of the Oyo State capital took to the streets to call on the government to take immediate action.

READ ALSO: Tinubu: Aso Rock cabal will be dealt with -El-Rufai

As the demonstrators blocked the entrances, the roads leading to Ibadan’s Iwo neighbourhood were deserted. Additionally, there were roadside burnfires, and reports indicate that one of the targets was a commercial bank.

Tayo Adetunji, one of the demonstrators, told Channels Television that “people are tired and demand relief.”

He continued, “The government in charge should provide us with relief.”

“The system is no longer working in Nigeria,” he alleged. Our struggle to collect the money is now an issue.

He pleaded with the government to permit Nigerians to continue using the old notes in order to improve the situation of the populace.

Another demonstrator, simply known as Taofeek, bemoaned the hardships brought on by the increase in petrol costs and the naira exchange and accused the government of being indifferent to the condition of Nigerians.