Afenifere faction demands N400 petrol, minimum wage hike

 

A faction of the pan-Yoruba socio-political organisation, Afenifere, led by Oba Oladipo Olaitan, has called for an immediate reduction in petrol prices to between N350 and N400 per litre to ease the economic hardship facing Nigerians.

The group described the government’s proposed petrol price stabilisation mechanism, which would keep the price at not more than N1,350 per litre, as falling far short of public expectations.

The demand 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 aimed at stabilising prices.

The Minister of Finance, Taiwo Oyedele, had said the arrangement would help cushion the impact of rising fuel costs.

Afenifere made the demand in a communiqué issued on Sunday after its monthly National Executive Committee meeting held in Lagos at the weekend.

The communiqué was signed by Afenifere National Leader, Olaitan, and its newly appointed substantive Secretary-General, Alade Rotimi-John.

The communiqué partly read, “The meeting observed the announcement by government through its Minister of Finance and Coordinating Minister of the Economy respecting a putative price modulation mechanism for ensuring petrol price stabilisation at not more than N1,350 as a far cry from the expectation of the people.