The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to use his “leadership position and good offices to direct the Nigerian National Petroleum Company Limited (NNPCL) to immediately reverse the, apparently, illegal and unconstitutional increase in the pump price of premium motor spirit (PMS), also known as petrol, across its retail outlets”.
In the open letter to the President, dated September 7, 2024, and signed by SERAP’s Deputy Director, Kolawole Oluwadare, the group said, “The increase in petrol price constitutes a fundamental breach of constitutional guarantees and the country’s international human rights obligations.
“Nigerians have for far too long been denied justice and the opportunity to get to the bottom of why they continue to pay the price for corruption in the oil sector.
SERAP said Tinubu should direct the Attorney General of the Federation and Minister of Justice, Mr. Lateef Fagbemi, SAN, and appropriate anti-corruption bodies to probe the allegations of corruption and mismanagement in NNPCL.
SERAP said the spending of the reported $300 million “bailout funds” collected from the federal government in August 2024, and $6 billion debt NNPCL owed suppliers, despite allegedly failing to remit oil revenues to the treasury, should also be probed.
The human rights group stated, “Suspected perpetrators of alleged corruption and mismanagement in the NNPC should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.”
“Rather than pursuing public policies to address the growing poverty and inequality in the country, and holding the NNPC to account for the alleged corruption and mismanagement in the oil sector, your government seems to be punishing the poor.
“The increase in petrol price has rendered already impoverished citizens incapable of satisfying their minimum needs for survival.
“The increase is not inevitable, as it stems from the persistent failure of successive governments to address allegations of corruption and mismanagement in the oil sector and the impunity of suspected perpetrators.
“Corruption in the oil sector and the lack of transparency and accountability in the use of public funds to support the operations of the NNPC have resulted in persistent and unlawful hike in petrol prices.”
