The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to direct the Nigerian National Petroleum Company Limited (NNPCL) to immediately reverse the 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 stated that the petrol price hike is both illegal and unconstitutional. The organisation argued that the increase violates constitutional guarantees and Nigeria’s international human rights obligations, particularly as citizens face worsening economic hardships.
SERAP also urged President Tinubu to instruct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, as well as relevant anti-corruption agencies, to investigate allegations of corruption and mismanagement within the NNPCL.
The letter partially reads: “Rather than implementing policies to reduce growing poverty and inequality in the country, your government appears to be penalising the poor by allowing the petrol price hike to persist.”
The organisation highlighted that the price increase has worsened the economic struggles of already impoverished citizens, noting that the rise is not inevitable but stems from years of corruption and mismanagement in the oil sector. SERAP emphasized that holding NNPCL accountable for alleged misconduct would serve the public’s best interest.
SERAP further expressed concern that rising fuel costs would push more Nigerians into poverty, warning that the country’s deteriorating economic situation could be exacerbated by this development.
The group has given President Tinubu 48 hours to address their recommendations or face legal action. “We would appreciate it if the recommended measures are implemented within 48 hours of receiving or publishing this letter. If we do not receive a response, SERAP will consider appropriate legal action to compel compliance,” the letter added.
According to SERAP, Section 13 of the Nigerian Constitution mandates the government to observe and apply the provisions of Chapter 2 of the Constitution, while Section 15(5) requires the abolition of corrupt practices, including those within the NNPCL.
The letter also referenced a reported refusal by suppliers to import petroleum products due to a $6 billion debt and claims that the NNPCL failed to remit USD $2.04 billion and N164 billion in oil revenues to the public treasury, as outlined in the Auditor-General’s 2020 annual report.
NNPCL recently raised the price of petrol from approximately N600 per litre to N855 per litre, with some areas seeing prices above N900 per litre, further burdening citizens already grappling with the country’s economic challenges.