Africa (Commonwealth Union) _ The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to instruct the Nigerian National Petroleum Company Limited (NNPCL) to reverse its recent fuel price hike, the second in just one month. The appeal comes as a pending court case questions the legality of the NNPCL’s power to raise gasoline prices without proper oversight. SERAP’s plea is detailed in an open letter signed by its deputy director, Kolawole Oluwadare, and addresses concerns about the rule of law and judicial integrity.
SERAP, which had previously filed a lawsuit against the president and NNPCL, argues that the latest increase in fuel prices undermines the ongoing Federal High Court case in Abuja. The organization contends that raising prices while the legality of such actions is under judicial review could prejudice the case and damage public trust in the judiciary.
SERAP also highlights President Tinubu’s prior commitment to upholding the Nigerian Constitution and the rule of law. In his inaugural speech, Tinubu pledged impartial governance under the Constitution, a promise that SERAP feels is being jeopardized by NNPCL’s recent actions. The organization insists that allowing the court to make a ruling on the initial fuel price hike, without further complicating the matter with another increase, would protect the integrity of the justice system.
The NNPCL’s recent fuel price adjustment, which saw petrol rise to N1,030 per litre, follows a previous increase in September that caused prices leap from N600 to N855 per litre. SERAP has expressed concern over the significant impact these price hikes will have on ordinary Nigerians, especially the most vulnerable populations.
Further compounding the issue, SERAP cites alarming reports of financial mismanagement within NNPCL. The Auditor-General’s 2020 audit report revealed that NNPCL failed to remit over $2 billion and N164 billion of oil revenues to the Federation Account. SERAP argues that this level of corruption and unaccountability adds weight to their legal challenge. SERAP’s lawsuit, filed in September, seeks to reverse the initial fuel price hike and demand a thorough investigation into allegations of corruption within NNPCL. The Federal High Court in Abuja will hear the case, which includes the Attorney General of the Federation as a respondent
