By Aaior K. Comfort

The Pan-Yoruba socio-political organization, Afenifere, has called on the Federal Government to reverse the recent hike in petrol prices, warning that the increase is exacerbating the hardships faced by Nigerians. In a statement released on Wednesday by Afenifere’s spokesman, Jare Ajayi, the group expressed concern over the timing of the price hike, given the current socio-economic challenges.

Ajayi highlighted that Nigerians are already struggling with severe economic difficulties, and the latest fuel price increase only adds to their burdens. He cautioned that if the Nigerian National Petroleum Company Limited (NNPCL) does not reverse the increment, it could undermine policies introduced by President Bola Tinubu’s administration, such as the Students Loan Scheme and the Consumer Credit Scheme, which are designed to alleviate the struggles of citizens.

On September 3, 2024, the NNPCL raised the pump price of petrol from N617 to N897 per litre. Afenifere questioned the rationale behind this decision, especially considering the NNPCL’s recent announcement of substantial profits alongside claims of significant debt.

“It is well-known that the cost and availability of energy sources like petrol, gas, electricity, diesel, and kerosene are crucial not only for production and services but also for the general well-being of Nigerians,” Ajayi stated. He added that the increase in energy prices has significantly raised the cost of living, reduced disposable income, and heightened health risks, making daily life increasingly difficult for the majority of citizens.

Afenifere urged the Federal Government to direct the NNPCL to reverse the fuel price hike, warning that failure to do so could jeopardize President Tinubu’s assurances that the hardships faced by Nigerians will soon be alleviated.