The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to leverage his leadership and direct the Nigerian National Petroleum Company Limited (NNPCL) to reverse what it describes as the “illegal and unconstitutional” increase in the pump price of petrol at NNPCL retail outlets.
In a statement by SERAP’s Deputy Director, Kolawole Oluwadare, on Sunday, the organisation urged the President to instruct the Attorney General of the Federation, Lateef Fagbemi, SAN, and relevant anti-corruption agencies to investigate allegations of corruption and mismanagement within the NNPCL. This includes probing the $300 million bailout reportedly received from the Federal Government in August 2024, as well as the company’s $6 billion debt to suppliers.
SERAP stated, “Those responsible for corruption and mismanagement at the NNPCL should face prosecution where sufficient evidence exists, and any illicit funds should be recovered.”
The organisation argued that the petrol price hike violates constitutional rights and international human rights obligations. “For too long, Nigerians have been denied transparency and justice, bearing the brunt of corruption in the oil sector,” SERAP said.
Rather than addressing growing poverty and inequality, SERAP accused the government of imposing further hardship on citizens by failing to hold the NNPCL accountable for alleged corruption and mismanagement. The hike, according to SERAP, has left many Nigerians unable to meet their basic survival needs.
“The increase is not inevitable but stems from the persistent failure of successive governments to address corruption in the oil sector and the impunity enjoyed by those responsible,” the statement continued.
SERAP emphasised that corruption and lack of accountability in the NNPCL have contributed to the unlawful spike in petrol prices. It urged the government to hold the corporation accountable for its alleged malpractices in the sector, stating that doing so would serve the public interest.
Highlighting the impact of the price increase, SERAP expressed concern that it has worsened the economic situation for already vulnerable citizens, pushing more Nigerians into poverty. The organisation warned that if the government fails to address the issue within 48 days of receiving the letter, it would consider legal actions to compel compliance in the public interest.
“Raising petrol prices while millions of Nigerians suffer from worsening economic conditions is inconsistent with the government’s constitutional and international obligations to ensure minimum living standards compatible with human dignity,” SERAP added.
The increase, according to SERAP, disproportionately affects marginalised and vulnerable citizens, jeopardising their living conditions and exacerbating the country’s socio-economic crisis. It also undermines Nigerians’ human rights and their ability to engage in civic participation.
SERAP reminded President Tinubu of his legal responsibility to mobilise the country’s resources to safeguard socio-economic rights and protect the most vulnerable. It called on the government to investigate and prosecute allegations of corruption within the NNPCL and ensure justice for the victims of such corruption.
Citing sections of the Nigerian Constitution, SERAP reiterated that the government is mandated to abolish corrupt practices, ensure social justice, and manage the nation’s resources for the common good. It also referenced the NNPCL’s reported failure to remit oil revenues to the public treasury as documented in the Auditor-General’s 2020 annual report.
In closing, SERAP stressed that addressing the corruption and mismanagement in the NNPCL would align with both Nigeria’s Constitution and international anti-corruption commitments.