THE Socio-Economic Rights and Accountability Project (SERAP), has requested that President Bola Tinubu directs the Nigerian National Petroleum Company Limited (NNPCL) to immediately reverse the increase in the pump price of Premium Motor Spirit (PMS), also known as petrol.
The ICIR had reported how the pump price of petrol sharply increased from an average of price of N650 to as high as N950 in some retail outlets within the country following the offtake of the Dangote refinery.
The recent development has attracted mixed reactions within Nigeria’s public space as several civic and non-civic institutions are decrying the effect of the increase on local traders and people’s standards of living.
In an open letter dated 7 September 2024 and signed by its deputy director Kolawole Oluwadare, the organisation demanded that the president directs the Attorney General of the Federation and minister of justice, Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to probe the allegations of corruption and mismanagement in the NNPCL.
This includes 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.
The letter, reads 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 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. Holding the NNPC to account for alleged corruption and mismanagement in the oil sector would serve legitimate public interests.”
SERAP noted that the increase in petrol price is a fundamental breach of constitutional guarantees and the country’s international human rights obligations adding that Nigerians have been denied justice as they continue to pay the price for corruption in the oil sector.
“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,” it stated.
The ICIR has reported how the NNPC clarified that the offtake of the Dangote Refinery does not guarantee a lowering of the petrol prices.
Kehinde Ogunyale tells stories by using data to hold power into account. You can send him a mail at jameskennyogunyale@gmail or Twitter: Prof_KennyJames | LinkedIn: Kehinde Ogunyale