Oil Sales: SERAP Goes To Court, Says NNPCL Must Declare Revenue

The Socio-Economic Rights and Accountability Project has filed a lawsuit against the Nigerian National Petroleum Company Limited, NNPCL, over its failure to declare oil accruing to the country since the removal of petrol subsidy.

Recall that President Bola Ahmed Tinubu, in May this year removed fuel subsidy, saying the government would channel savings from it to some critical areas of the economy.

But not a few Nigerians have challenged the NNPCL to make earnings from subsidy public, because they are yet to see its impacts.

The angry Nigerians are calling for a probe of the government-controlled oil company, among them a former Central Bank of Nigerian, CBN, governor Sanusi Lamido Sanusi.

Sanusi, a former Emir of Kano described state owned oil firm as a cesspit of corruption.

Also, the minister of Finance and Coordinating Minister of the Economy, Wale Edun had hinted recently that NNPCL would be investigated for corruption.

SERAP in a suit filed at the Federal High Court in Abuja, has prayed the court to compel NNPCL to account for its daily oil sales since subsidy was removed.

The rights group said Nigerians have the right to know the revenue from oil sales in other to ensure that funds are not being diverted.

Kolawole Oluwadare, SERAP Deputy Director, said NNPCL operation has been shrouded in secrecy for along, the jinx must be broken he said.

According to him, “The NNPC has a legal responsibility to disclose the details sought. Transparency would increase public confidence that the revenues would benefit Nigerians,” he said.

He explained that the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the culture of impunity of perpetrators.

Kyari, NNPC Group CEO recently stated that Nigeria does not have the technology to ascertain its daily crude oil sales.