ECOWAS worried over naira, fuel scarcity in Nigeria ahead of elections

The Economic Community of West Africa (ECOWAS) Observer Mission to Nigeria for the 2023 general elections has expressed concerns over the lingering economic crisis in the country occasioned by the scarcity of fuel and naira notes.

The Observer Mission which is led by former President of Sierra Leone, Ernest Bai Koroma, called on President Muhammadu Buhari and the Federal Government to immediately address the challenges before the elections scheduled to commence from February 25.

The team which visited the Minister of Foreign Affairs, Geoffrey Onyeama, at his office in Abuja on Wednesday, said the success of the Nigerian elections is key for the sub region.

“We have had some concerns on the availability of fuel. Its limitation will affect the movement of everybody, including INEC,” Koroma said.

“Another concern is that of the scarcity of cash, the limited liquidity in the system. This has been a concern that has been raised by our observers and also the political parties that we have met.

READ ALSO:ECOWAS tasks INEC on peaceful conduct of 2023 elections

“Now, in addition to these two general concerns, there are security issues that affect specific locations and regions.

“These are all issues that we will want the government to address as we are going into these all-important elections,” he added.

While responding to the concerns raised by the Observer Mission, Onyeama agreed that the scarcity of naira and fuel has been a huge challenge for the government but assured that the Buhari-led administration is currently taking measures to address the problems.

“On the issue of cash availability and fuel scarcity, I do understand that there are measures that are being taken in respect of fuel scarcity.

“Banks should be more readily available and the financial institutions will put the N200 notes in circulation.”

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