Babajide Sanwo-Olu, the Governor of Lagos State, announced relief packages today to mitigate the effects of the CBN’s currency swap and fuel shortage.
During a press conference in Marina on Wednesday, the governor announced a 50 percent discount on all Lagos State public transportation systems, including the BRT, Last Mile, and Lagos Ferry Services, among others, for the next one week, beginning Thursday.
According to Sanwo-Olu, the government has taken some steps to mitigate the effects of these measures, which were announced at the federal level but had far-reaching consequences for states.
“There have been talks between the State Government and the Nigerian National Petroleum Corporation Limited (NNPCL) on the lingering fuel shortage.
“NNPCL demanded Ijegun Egba tank owners and operators unhindered access to the tank farms where about 40 per cent of petroleum products come from. We have been able to do that by rearranging the timing of the work on the Buba Marwa Road, the dual carriageway that leads to the tank farms. The road is over 50 per cent completed. Now, you would have noticed some improvement in the supply of petroleum products. Also, we have given approval for 24 hours work at petrol stations around the State,” he said.
Effects of the policy
The governor said the CBN currency exchange deadline has, no doubt, caused some dislocation, saying that Lagos is Nigeria’s business and financial engine-room.
“So, we have recently felt the effects of this measure. Thankfully, the Supreme Court has made some pronouncements on this. I praise the Judiciary for its wise ruling on this matter. To further support Lagosians to weather these stormy days, I hereby announce the following measures:
“A 50% 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 for the next seven days. We will push out more Cowrie Cards to enable more Lagosians get onboard our services,” he said.
The governor said he had directed that food banks be set up in various parts of the State to cater for the vulnerable, as government would distribute food stuff to various communities.
Sanwo-Olu warned mischief makers who miht see this as an opportunity to incite violence that “this is not the way to go. I enjoin every law-abiding citizen to go about their lawful business without fear.”
