Reverse Fuel Price, Probe NNPCL – SERAP Tells Tinubu

President Bola Tinubu has been called by the Socio-Economic Rights and Accountability Project (SERAP) to direct the Nigerian National Petroleum Company Limited (NNPCL) to revoke the Premium Motor Spirit (PMS) pump price hike, which it deemed to be “illegal and unconstitutional.”

The Attorney General of the Federation, Minister of Justice, Lateef Fagbemi, and anti-corruption agencies are to be directed by Tinubu to look into claims of corruption and mismanagement at NNPCL. This includes investigating how the company spent the $300 million in “bailout funds” that it allegedly received from the Federal Government in August 2024 and the $6 billion it owes suppliers. This directive came from SERAP in a statement released on Sunday, September. Kolawole Oluwadare, Deputy Director of SERAP.

It also stated that the increase in petrol prices is a fundamental violation of constitutional guarantees and the country’s international human rights obligations, emphasizing that Nigerians have long been denied justice and the opportunity to learn why they continue to pay the price for corruption in the oil sector.

The statement said in part, “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 prices has rendered already impoverished citizens incapable of satisfying their minimum survival needs.

“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 hikes in petrol prices.

“Holding the NNPC to account for alleged corruption and mismanagement in the oil sector would serve legitimate public interests.”

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli