The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to use his position and “good offices” to direct the Nigerian National Petroleum Company Limited to reduce fuel prices.

On Sunday, In a statement by its Deputy Director, Kolawole Oluwadare, SERAP also urged the President to “direct the Attorney General of the Federation and Minister of Justice Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies to probe the allegations of corruption and mismanagement against the NNPCL, including the mismanagement of $300 million ‘bailout funds’ allocated by the Federal Government in August 2024, and the $6 billion debt it owes suppliers, despite allegedly failing to remit oil revenues to the federal treasury.”

Suspected perpetrators of alleged corruption and mismanagement in the NNPC should face prosecution as appropriate, if there is sufficient evidence against them, and any proceeds of corruption should be fully recovered, SERAP added.

SERAP noted that: “The increase in petrol price is 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.”

The letter written by SERAP, read in part: “Rather than pursuing public policies to address the growing poverty and inequality in the country, and holding the NNPCL to account for the alleged corruption and mismanagement in the oil sector, your government seems to be punishing the poor.

“The recent increase in petrol price has rendered the already impoverished citizens incapable of satisfying their minimum needs for survival.

“The increase rather not inevitable, as it is a result of the persistent failure of governments to address allegations of corruption and mismanagement in the oil sector and the impunity with which the perpetrators plunder the companies resources.

“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.