Afenifere Urges NNPC to Address Soaring Energy Costs, Revive Refineries

The pan-Yoruba socio-political group, Afenifere, expressed concern on Saturday about the rising cost of energy, stating that it negatively affects not only the economy but also health and security.

Afenifere’s comments follow the sharp increase in petrol prices, with a litre now costing between N1,000 and N1,400, while the price of cooking gas has risen to around N1,500 per kilogram. In comparison, in 2023, petrol was priced at N197 per litre, and gas was about half its current cost.

The latest report from the National Bureau of Statistics (NBS) shows that inflation has climbed to 32.70 per cent in September. This comes after the federal government announced in August that a bag of rice would be priced at N40,000. Today, however, a bag sells for between N90,000 and N105,000, and the price hike extends to other essentials like electricity.

In response, Afenifere’s National Publicity Secretary, Jare Ajayi, issued a statement: “Energy costs have soared. We all know energy is essential, not just for the economy but also for health and security. People who can’t afford transport or proper heating and cooling in their homes or who struggle to prepare food due to energy costs are putting their health at risk.

“Similarly, the rising cost of energy—whether fuel, electricity, gas, or diesel—has forced many businesses to shut down. High unemployment often leads to increased crime, further destabilising security.”

To alleviate the burden of soaring energy costs, Afenifere urged the Nigerian National Petroleum Company Limited (NNPCL) to fulfil its promise to revitalise the nation’s non-operational refineries. The group referenced several commitments made by the NNPCL, particularly regarding the Port Harcourt refinery, none of which have been met since 2022.

Ajayi also mentioned a statement by OPEC Secretary General, Haitham Al Ghais, who suggested that high fuel prices in Nigeria are driven by various taxes, not just market prices. He stressed that NNPCL has the power to significantly lower fuel prices.

“The NNPCL should reverse its recent price hike and ensure its refineries begin production immediately,” Ajayi urged.

Afenifere also called for home-grown policies to support local businesses, encourage innovation, and reduce dependence on imports. The group criticised the influence of international financial institutions, such as the World Bank, whose policies often have negative long-term effects on countries that implement them.

Ajayi suggested that instead of waiting 10 to 15 years for these policies to yield results, Nigeria should focus on agriculture, local manufacturing, and security to boost the economy more effectively.