The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to direct the Nigerian National Petroleum Company Limited (NNPCL) to reverse what it describes as the ‘illegal and unconstitutional’ hike in Premium Motor Spirit (PMS) prices.
In a statement on Sunday, September 3, SERAP’s Deputy Director, Kolawole Oluwadare, called on Tinubu to instruct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, alongside anti-corruption agencies, to investigate claims of corruption and mismanagement within NNPCL. This includes probing the reported $300 million in ‘bailout funds’ provided by the Federal Government in August 2024, as well as the $6 billion debt owed to suppliers.
SERAP stressed that the fuel price hike violates the constitution and Nigeria’s international human rights commitments, noting that citizens have consistently been denied justice over corruption in the oil sector.
The statement said, “Rather than enacting policies to address growing poverty and inequality, your administration appears to be punishing the poor. The increase in petrol prices has left already struggling citizens unable to meet basic needs.
“This situation is not inevitable; it stems from the repeated failure of successive governments to address allegations of corruption and mismanagement in the oil sector, and the impunity of those responsible. The lack of transparency in how public funds are used to support NNPC operations has contributed to ongoing, unjustified increases in petrol prices.”