The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to direct the Nigerian National Petroleum Company Limited to promptly reverse the recent increase in the price of Premium Motor Spirit (petrol).
In a letter dated September 7, 2024, and signed by Deputy Director Kolawole Oluwadare, SERAP argued that the petrol price hike is both illegal and unconstitutional.
According to the SERAP, the petrol price hike represents a fundamental breach of constitutional guarantees and the country’s international human rights obligations, especially as citizens face worsening economic hardships.
SERAP has also requested that President Tinubu direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, and relevant anti-corruption agencies to investigate allegations of corruption and mismanagement within the NNPCL.
The letter reads in part: “Instead of implementing public policies to address the growing poverty and inequality in the country and holding the NNPCL accountable for alleged corruption and mismanagement in the oil sector, your government appears to be penalising the poor.
“The petrol price hike has made it even harder for already impoverished citizens to meet their basic needs. This increase is not inevitable, as it results from the persistent failure of successive governments to tackle corruption and mismanagement in the oil sector, along with the impunity of suspected perpetrators.
“Corruption in the oil sector, coupled with a lack of transparency and accountability in the use of public funds to support NNPCL operations, has led to repeated and unlawful increases in petrol prices.
“Holding the NNPCL accountable for alleged corruption and mismanagement would serve legitimate public interests. This price increase is causing severe hardship to those less well-off. We are concerned that, as Nigeria’s economic situation deteriorates, rising petrol prices will push people further into poverty.”
The organisation has demanded that the President address its recommendations within two days or face legal action to compel compliance.
It added: “We would appreciate it if the recommended measures are implemented within 48 hours of receiving or publishing this letter. If we do not receive a response by then, SERAP will consider appropriate legal action to compel your government to comply with our request in the public interest.
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“Your government is legally obligated to investigate and prosecute allegations of corruption and mismanagement within the NNPCL and to ensure justice and effective remedies for victims of corruption. Investigating and prosecuting these allegations would align with both the Nigerian Constitution and the country’s international anti-corruption obligations.
“Section 13 of the Nigerian Constitution 1999 [as amended] mandates your government to conform to, observe, and apply the provisions of Chapter 2 of the Constitution. Section 15(5) requires your government to ‘abolish all corrupt practices’, including those within the NNPCL.
“According to our information, the NNPCL recently increased the price of petrol from about N600 per litre to N855 per litre, with some instances exceeding N900 per litre. This apparent unlawful increase followed a reported refusal by suppliers to import petroleum products due to a $6 billion debt.
“The NNPCL reportedly failed to remit USD $2.04 billion and N164 billion in oil revenues to the public treasury, as documented in the recently published 2020 annual report by the Auditor-General of the Federation.”
