A faction of the pan-Yoruba socio-political organisation, Afenifere, led by Oba Oladipo Olaitan, has demanded an immediate reduction in petrol prices to between ₦350 and ₦400 per litre and an upward review of Nigeria’s ₦70,000 monthly minimum wage.
The group said the proposed petrol price stabilisation mechanism announced by the Federal Government falls short of Nigerians’ expectations amid persistent economic hardship and rising living costs.
According to The PUNCH report published on Monday, October 12, 2026, the demands were contained in a communiqué issued after Afenifere’s monthly National Executive Committee meeting held in Lagos over the weekend.
The communiqué was signed by Olaitan and the group’s newly appointed substantive Secretary-General, Alade Rotimi-John.
Afenifere criticised the government’s proposed mechanism for stabilising petrol prices at no more than ₦1,350 per litre, describing it as inadequate to address the affordability challenges facing Nigerians.
“The meeting proposed an immediate review of the fuel price to between ₦350 – ₦400 per litre so as to ease the general situation regarding the unaffordability of the product,” the communiqué stated.
The demand followed the Federal Government’s announcement on October 8, 2026, that it was negotiating a ₦1,350-per-litre ceiling on petrol’s ex-gantry or landing cost under a proposed price modulation mechanism.
Finance Minister Taiwo Oyedele, speaking at a press briefing in Abuja, said the arrangement was intended to limit price volatility, with refiners and importers expected to absorb costs above the agreed ceiling initially and recover the difference when market conditions permit.
Channels Television reported the announcement on October 8, clarifying that the proposed ceiling would not automatically translate into a retail pump price of ₦1,350 per litre.
The National Bureau of Statistics’ April 2026 Petrol Price Watch put the average retail price of petrol at ₦1,532.93 per litre, representing an 18.97% increase from ₦1,288.54 in March 2026 and a 23.69% rise from ₦1,239.33 in April 2025.
Afenifere also called for an urgent increase in the ₦70,000 monthly national minimum wage, arguing that inflation had eroded workers’ purchasing power and left the existing rate inadequate under prevailing economic conditions.
The group expressed concern about what it described as widespread hardship, hunger and high inflation under President Bola Tinubu’s administration. It also criticised the government’s handling of issues relating to security, the economy and citizens’ welfare.
On the political front, Afenifere warned against rising intolerance and inflammatory statements by politicians ahead of the 2027 general elections.
The organisation urged political actors to conduct their campaigns peacefully and called on the Federal Government to guarantee free and fair elections by allowing the Independent National Electoral Commission to operate independently.
The meeting also confirmed Rotimi-John’s appointment as Afenifere’s substantive Secretary-General.
