A faction of the pan-Yoruba socio-political organisation, Afenifere, has called on the Federal Government to reduce petrol prices to between N350 and N400 per litre and increase the national minimum wage above N70,000 amid rising inflation and economic hardship.
The group, led by Oba Oladipo Olaitan, described the government’s proposed petrol price stabilisation mechanism, which seeks to keep prices at no more than N1,350 per litre, as inadequate to address the financial pressure on Nigerians.
The demands were contained in a communiqué issued on Sunday following Afenifere’s monthly National Executive Committee meeting held in Lagos at the weekend.
The communiqué was signed by Olaitan and the organisation’s newly appointed substantive Secretary-General, Alade Rotimi-John.
Afenifere said the proposed price ceiling fell short of public expectations, arguing that a much steeper reduction was needed to make petrol affordable and ease the wider economic burden on households.
“The meeting proposed an immediate review of the fuel price to between N350–N400 per litre so as to ease the general situation regarding the unaffordability of the product,” the communiqué stated.
The call comes days after the Federal Government announced plans to negotiate a N1,350-per-litre ceiling on the ex-gantry or landing cost of petrol under a proposed price modulation mechanism.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the arrangement was intended to help cushion the impact of rising fuel costs.
Afenifere Seeks Minimum Wage Review
The organisation also called for an upward review of the N70,000 national minimum wage, saying persistent inflation had eroded workers’ purchasing power.
It argued that the existing wage was no longer sufficient to meet the rising cost of living and urged the government to adjust it to reflect current economic realities.
“The meeting observed that the statutory minimum wage of N70,000 per month is due for an upward review so as to meet the challenges of the inflationary spiral which have rendered the minimum wage unreasonable and unfeeling in the present circumstances,” the communiqué stated.
The group also criticised the Tinubu administration over what it described as worsening hardship, hunger and high inflation, saying the government had not adequately addressed citizens’ concerns about security, economic conditions and general welfare.
“The meeting reviewed the general socio-political and economic situation of the country and observed that a pervasive climate of hardship, hunger and hyperinflation is yet the defining characteristic of the Tinubu presidency,” it added.
Those in attendance included Olaitan, Omo-Oba Supo Shonibare, former Lagos State Deputy Governor Kofo Bucknor-Akerele, Tola Mobolurin, Bayo Adenekan, Justice Faloye, Dele Farotimi, Toyin Falade, Lanre Anjolaiya, Olayemi Olajuyinnu and Wale Balogun.
