The Muslim Rights Concern (MURIC) has called on the Nigerian National Petroleum Company Limited (NNPCL) to revert to the previous pricing of Premium Motor Spirit (PMS), commonly known as petrol, amid recent price hikes across the nation.
This appeal comes as Nigerians continue to grapple with economic hardships exacerbated by inflation and the removal of fuel subsidies.
In a statement signed by its Executive Director, Professor Ishaq Akintola, MURIC expressed deep concern over the current economic challenges facing Nigerians.
The statement, released to Newsmen on Friday, highlighted the widespread suffering and hunger afflicting the population.
Professor Akintola emphasised that the surge in petrol prices, following the removal of the fuel subsidy, has significantly contributed to the escalating cost of living, with food prices skyrocketing and placing immense pressure on ordinary citizens.
Professor Akintola criticised NNPCL’s recent decision to increase the price of petrol, describing it as a move that has compounded the difficulties faced by millions of Nigerians.
He noted that the public had been assured of relief with the anticipated commencement of operations at the Dangote Refinery, which was expected to bring down petrol prices substantially. However, these hopes have been dampened by NNPCL’s subsequent actions.
One of MURIC’s key concerns is NNPCL’s role as the sole marketer of petrol produced by the Dangote Refinery.
Professor Akintola argued that this monopolistic approach effectively sidelines the refinery’s capacity to set its own prices, placing control firmly in the hands of NNPCL.
He described this move as an “ambush” and a “punch below the belt,” suggesting that NNPCL’s actions undermine the competitive potential of Dangote’s fuel in the market.
“If NNPC had not increased the price of its own fuel, its decision to control the distribution of Dangote’s fuel might have benefitted the general public,” Akintola noted.
“However, by both increasing petrol prices and monopolising the supply chain, NNPC has rendered the Dangote Refinery’s efforts to alleviate fuel prices effectively impotent.”
MURIC’s statement also criticised NNPCL’s actions as anti-consumer and lacking in moral consideration.
Professor Akintola underscored the interconnectedness of fuel prices and the overall economy, noting that the cost of petroleum products directly influences the prices of goods and services, particularly essential items like food.
He argued that the current price hike in petrol has not only affected transportation costs but also triggered a cascade effect that has made food items unaffordable for many Nigerians.
The organisation urged NNPCL to adopt a more people-friendly approach by reverting to the old petrol prices and refraining from actions that could stifle the operational freedom of the Dangote Refinery.
“The engine of the economy is driven by the price of petroleum,” Akintola asserted. “Nigerians are suffering because petrol prices have soared, causing a ripple effect on food prices and other basic needs.”
MURIC’s appeal comes at a time when many Nigerians are hopeful for tangible solutions to the economic challenges they face daily.
The organisation’s stance reflects a broader call for government agencies and corporations to prioritise the welfare of the populace in their decision-making processes.
As the nation awaits the full operational capacity of the Dangote Refinery, MURIC’s plea underscores the importance of ensuring that no single entity monopolises the benefits that this development is expected to bring.
By advocating for a return to previous petrol prices and urging NNPCL to allow the Dangote Refinery to operate independently, MURIC is championing a more equitable and sustainable approach to managing the nation’s fuel supply and economic health.
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