The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to instruct the Nigerian National Petroleum Company Limited (NNPCL) to immediately reverse its recent increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol.
In a letter dated September 7, 2024, and signed by Deputy Director Kolawole Oluwadare, SERAP argued that the price hike is both illegal and unconstitutional.
The organization contends that the increase violates constitutional guarantees and Nigeria’s international human rights obligations, particularly at a time when many citizens are already facing severe economic difficulties.
SERAP also urged President Tinubu to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, along with relevant anti-corruption agencies, to investigate allegations of corruption and mismanagement within the NNPCL.
The letter states in part: “Rather than implementing policies to address the rising poverty and inequality in the country and holding the NNPCL accountable for alleged corruption and mismanagement, your government appears to be penalizing the poor.
This price hike has exacerbated the struggle of already impoverished citizens to meet their basic needs.
The increase is not unavoidable; it stems from the persistent failure of successive governments to address corruption and mismanagement in the oil sector, alongside the impunity of suspected wrongdoers.
SERAP emphasizes that corruption and a lack of transparency in the oil sector have led to repeated and unjustified increases in petrol prices. The organization argues that holding the NNPCL accountable for its alleged misdeeds would serve the public interest and help alleviate the hardships imposed on the less fortunate.
The group has demanded that President Tinubu address these issues within 48 hours or face legal action to enforce compliance.
The letter concludes: “We expect that the recommended measures be implemented within 48 hours of receipt or publication of this letter.
Should we not receive a response within this timeframe, SERAP will consider appropriate legal action to compel your government to act in the public interest.
SERAP underscores the government’s legal obligation to investigate and prosecute corruption and mismanagement within the NNPCL, in line with both the Nigerian Constitution and international anti-corruption standards. The letter notes that the recent price increase saw petrol rise from approximately N600 per litre to N855, with some prices exceeding N900 per litre.
This increase follows reports of suppliers refusing to import petroleum products due to a $6 billion debt and the NNPCL’s failure to remit significant oil revenues to the public treasury, as documented in the Auditor-General’s 2020 annual report.
