SERAP Gives Tinubu 48 Hours To Reverse Fuel Price Hike

Socio-Economic Rights and Accountability Project (SERAP) has issued President Bola Tinubu a 48-hour ultimatum to order the Nigerian National Petroleum Company Limited (NNPCL) “to immediately reverse the apparently illegal and unconstitutional increase” in fuel pump price hike “across its retail outlets”.

The group also asked him to “direct the Attorney General of the Federation and Minister of Justice Lateef Fagbemi and appropriate anti-corruption agencies to probe the allegations of corruption and mismanagement in the NNPC, including the spending of the reported $300 million ‘bailout funds’ collected from the Federal Government in August 2024, and the $6 billion debt it owes suppliers, despite allegedly failing to remit oil revenues to the treasury”.

It said in its letter to the President: “Suspected perpetrators of alleged corruption and mismanagement in the NNPC Ltd should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.

“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.

“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.”

Speaking further it said: “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.

“The increase is causing immense hardship to those less well off. We are concerned that as the economic situation in Nigeria deteriorates, the increase in petrol price is pushing people further into poverty.

“We would be grateful if the recommended measures are taken within 48 days of the receipt and/ or publication of this letter. “If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.