IRAN WAR: MURIC SAYS THERE IS NO JUSTIFICATION FOR FUEL PRICE INCREASE IN NIGERIA
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By:Tajudeen Aminat
The muslim rights concern (muric) has stated that the ongoing crisis in iran should not justify any increase in the price of premium motor spirit (pms) in nigeria.
in a statement released on tuesday by its executive director, professor ishaq akintola, muric made this position clear.
according to reports by the Media, the price of pms has recently risen in nigeria, reaching as high as n1,400 in some areas, with the increase being attributed to the iran conflict.
Akintola, in his response, stated that the crisis in distant iran should not impact petroleum supply in nigeria.
he emphasized that local refineries must be adequately supplied with crude oil to enable a reduction in fuel prices nationwide.
according to him, refineries cannot operate efficiently without sufficient crude supply.
akintola also called on president bola tinubu to direct the relevant authorities to ensure steady crude supply to local refineries.
he added that once refineries are well supplied, nigerians should expect a drop in the price of pms.
in the statement, akintola said, “as war in the middle east continues with its economic consequences, nigeria has been caught in the situation. fuel prices have surged, with some stations selling as high as n1,400 per litre compared to the pre-war price of n820.
“the question is why should fuel be this expensive in nigeria, even with a war in faraway iran, when we have crude oil and operational refineries? this prompted us to begin seeking answers to this important issue.”
“Our findings reveal a contradictory and completely puzzling situation. we found that local refineries are being starved of crude oil, even though nigeria has it in abundance. the crude is being rationed to our refineries, which is unacceptable and illogical.
“how can a local refinery operate at full capacity under such restrictive conditions? how can our refineries meet their obligations to nigerians under these constraints? for instance, the dangote refinery now has to purchase nigerian crude through intermediaries in places like london and dubai, often at higher prices.”
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