No Fuel, No Money as Port Harcourt Residents in For a Long Day
Port Harcourt residents are in for a long day, as the Nigerian Government cannot do anything to reduce high cost of fuel across the states. Nigerian Government has been on high alert for the past few days following the announcement made by the CBN Governor regarding the new deadline of the new naira notes.
The order of the CBN Governor that all banks should stop transiting the new naira on February 10 has brought a lot of hardship to Nigerians as most banks are no longer dispensing money to their customers.
“As at this documentation, Fuel stations in Rivers State has remained closed only few selling above pump price.”
On Tuesday morning, a group of youths attacked an oil refinery, which resulted into huge fire and explosion that got 30 people injured.
The government of Nigeria has been on high alert for the past few days following the announcement made by the CBN Governor regarding the new naira notes. The CBN Governor has ordered all banks to stop transiting the new naira on February 10, 2023. This means that if you want to withdraw your money from a bank in Port Harcourt, it will take longer than usual because there is no money available for banks to payout its customers.
Following the latest development, POS in Port Harcourt has now increased its transactions rate. For N1000 exchange, POS now charge N100 and for N5000 exchange, POS agents now charge N500
The order by the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, that banks should stop transiting the new naira on February 10 has brought a lot of hardship to Nigerians as most banks are no longer dispensing money to their customers.
The directive was issued following a meeting with bank CEOs, who said they would be unable to comply with the directive due to lack of funds. It also followed calls by members of the National Assembly for all banks in Nigeria to close down operations and transfer all assets into Federal Government custody until further notice.
“Fuel stations in Rivers State has remained closed only few selling above pump price.
In Rivers State, fuel stations have remained closed for over two weeks now. This has left many residents stranded and in dire need of fuel to run their cars.
The closure has been attributed to implementation problems in the state as well as lack of supply from Shell Petroleum Development Company (SPDC). However, it was reported that some stations have been reopened after government intervention.
As far as the price of petrol goes, residents say they are paying between N450 and N500 per litre at most places while some are even paying above pump price!
No fuel means no money
You will be spending more time in queues.
You will not be going to work.
You will not be buying food or anything else to eat, as there is no money in the market.
The situation in Rivers State is not much different from the rest of Nigeria. Most gas stations are closed and the few that are open have fuel sold at above pump price. This means that your car will cost you more money when you buy petrol, just like most Nigerians who depend on their cars to get around daily life.
