Newscenter Media News The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to direct the NNPCL to immediately reverse the second increase in petrol prices in one month, pending hearing and determination of the suit before the court.
SERAP had last month filed a lawsuit against the president and the Nigerian National Petroleum Company Limited (NNPCL) at the Federal High Court, Abuja challenging the legality of the powers of the NNPCL to increase petrol prices.
The group said it filed the suit “over the failure to reverse the apparently unlawful increase in the pump price of petrol, and to probe the allegations of corruption and mismanagement in the NNPCL.”
In the open letter dated 12 October 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “The latest increase in petrol prices makes a mockery of the case pending before the Federal High Court, and creates a risk that the course of justice will be seriously impeded or prejudiced in this case.”
SERAP said, “One of the fundamental principles of the rule of law is that it applies to everyone, including presidents and CEOs of public institutions.”
According to SERAP, “It is in the public interest to keep the streams of justice clear and pure, and to maintain the authority and integrity of the court in the case.”
SERAP also said, “Allowing the Federal High Court to hear and determine the case would be entirely consistent with the letter and spirit of the Nigerian Constitution 1999 [as amended], your oath of office and oft-repeated promises to uphold the rule of law.”
The letter, read in part: “SERAP notes that since assumption of office in May 2023 you have repeatedly promised, including in your inaugural speech, that ‘Nigeria will be impartially governed according to the Constitution and the rule of law.’
“Increasing petrol prices while the Federal High Court case is pending would prejudice and undermine the ability of the court to do justice in the case, damage public confidence in the court, prejudice the outcome of the case, as well as impede the course of justice.
“We would be grateful if the recommended measures are immediately taken following the receipt and/or publication of this letter, failing which SERAP shall consider contempt proceedings and/or other appropriate legal actions to compel your government and NNPCL to comply with our request in the public interest.
“If not immediately reversed, the latest increase in petrol prices would seriously undermine the integrity of the Nigerian Constitution and have serious consequences for the most vulnerable and disadvantaged Nigerians and the public interest.”
The group further said, “According to our information, the Nigerian National Petroleum Company (NNPC) Limited recently increased the price of premium motor spirit (PMS), also known as petrol, across its retail outlets.
“The retail price of petrol was increased from N897 to N1,030 per litre. This is the second increase in one month, and followed the increase in September from N600 to N855 per litre, and in some instances above N900 per litre.”
“The two increases followed a scarcity caused by the reported refusal by suppliers to import petroleum products for the NNPCL over a $6 billion debt.”
“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation (NNPC) failed to remit over USD$2 billion and N164 billion of oil revenues into the Federation Account. The Auditor-General fears that the money may have been diverted into private pockets.
“The NNPCL has failed to account for the missing public funds. The Auditor-General wants the money recovered and remitted into the Federation Account.”
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