Reverse Fuel Price, Probe NNPCL – SERAP Tells Tinubu

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to direct the Nigerian National Petroleum Company Limited (NNPCL) to quickly reverse what it described as the illegal and unconstitutional increase in the pump price of Premium Motor Spirit (PMS) across its retail outlets.

SERAP, in a statement by its Deputy Director, Kolawole Oluwadare, on Sunday, also urged Tinubu to direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, and appropriate anti-corruption agencies to probe allegations of corruption and mismanagement in NNPCL, 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.

It said that suspected perpetrators of alleged corruption and mismanagement in NNPC should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.

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It added that the increase in petrol prices constitutes a fundamental breach of constitutional guarantees and the country’s international human rights obligations, stressing that 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.

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.”