Afenifere urges FG to reverse NNPCL fuel price hike

The pan-Yoruba socio-cultural organization, Afenifere, has urged the federal government to uphold the statement made by the Minister of State for Petroleum, Mr. Heineken Lokpobiri, asserting that the Tinubu administration did not authorize the recent fuel price hike by the Nigerian National Petroleum Corporation Limited (NNPCL).

The organization called on the government to instruct the NNPCL to reverse the increase, emphasizing the severe economic hardships currently faced by Nigerians.

In a statement signed by the organization’s spokesman, Comrade Jare Ajayi, Afenifere expressed concern over the timing of the fuel price hike, stating that it exacerbates the already challenging socio-economic conditions.

The group argued that implementing policies that further burden citizens is counterproductive, especially when the government has introduced initiatives like the Student Loan Scheme and Consumer Credit Scheme aimed at easing financial pressures.

The NNPCL recently announced an increase in the pump price of petrol from N617 to N897 per liter, just days after revealing a debt burden of $6.8 billion. This announcement followed the corporation’s report of a N3.3 trillion profit in its 2023 audited financial statement, a contradiction that Afenifere found troubling.

Afenifere emphasized that the rising costs of essential energy sources—such as petrol, gas, electricity, diesel, and kerosene—are significantly impacting the cost of living, reducing disposable incomes, and increasing health risks for the average Nigerian.

The organization highlighted that these price hikes are worsening the plight of millions of Nigerians, many of whom are already categorized as “multi-dimensionally poor.”

Afenifere warned that if the government fails to reverse the fuel price hike, it could undermine President Bola Tinubu’s assurances that the current hardships will soon be alleviated. The group urged the federal government to take immediate action to prevent further suffering among the populace.