The Muslim Rights Concern, MURIC, has declared that the ongoing crisis in Iran should not lead to increment in the price of Premium Motor Spirit, PMS, in Nigeria.

MURIC made the assertion in a statement released on Tuesday by its Executive Director, Professor Ishaq Akintola.

The price of PMS has increased in recent days in Nigeria, rising as high as N1,400 in some areas. The development is blamed on the Iran conflict.

Akintola in his reaction, noted that the ongoing crisis in far away Iran should not affect the supply of petroleum in Nigeria.

The MURIC boss further maintained that local refineries should be supplied enough crude, to facilitate reduction in the price of petroleum across the country.

He argued that local refineries cannot function optimally when they are not getting enough crude.

Akintola used the opportunity to appeal to President Bola Tinubu to issue marching orders to the appropriate agency to supply enough crude oil to local refineries.

He added that when local refineries get enough supply, Nigerians should expect reduction in the price of PMS.

Akintola in the statement said, “As war in the Middle East rages with the concomitant economic impact on people’s lives, Nigeria has found itself caught in the quagmire. The price of fuel has hit the roof with some petrol stations selling as high as N1,400 per litre compared to the pre-war price of N820 only.
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“The question is why should fuel cost so much in Nigeria even if there is war in far away Iran when we have crude oil and functional refineries? We were compelled to set the machinery in motion in a bid to find an answer to this vital question.
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‎”Our findings reveal a paradoxical and totally baffling scenario. We discovered that the local refineries have been stinted of crude oil. The same crude oil which Nigeria has in excess is being rationed to our local refineries. This is ridiculous and unacceptable.
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‎”How can a local refinery function to its maximum capacity in such a strangulating environment? How can our local refineries fulfil their obligation to Nigerians with this stifling stronghold?bFor example, Dangote Refinery now buys Nigerian crude oil through middlemen in London, Dubai, etc at higher price.”