SERAP Demands Tinubu Revert Unlawful Petrol Price Hike Within 48 Hours
The Socio-Economic Rights and Accountability Project (SERAP) is asking President Bola Tinubu to use his position to instruct the Nigerian National Petroleum Company Limited (NNPCL) to immediately roll back the recent illegal increase in petrol prices at its outlets.
SERAP also wants the President to direct the Attorney General and anti-corruption agencies to investigate allegations of corruption and mismanagement at NNPC. This includes looking into the spending of $300 million in bailout funds and a $6 billion debt to suppliers, despite NNPC allegedly failing to pay oil revenues to the government.
SERAP believes that those responsible for corruption and mismanagement at NNPC should be prosecuted if there’s enough evidence, and any stolen funds should be recovered.
In a letter dated September 7, 2024, signed by SERAP deputy director Kolawole Oluwadare, the group argues that the petrol price hike violates constitutional and international human rights standards. They claim that this increase has hurt the poor by making it even harder for them to meet their basic needs.
The letter criticizes the government for not addressing poverty and inequality and for seemingly punishing the poor instead of tackling corruption in the oil sector. It also points out that corruption and lack of transparency in managing public funds have led to these unjust price hikes.
SERAP urges the government to act on their recommendations within 48 days. If not, they may take legal action to force the government to address these issues.
They argue that raising petrol prices in a worsening economic situation is inconsistent with the government’s constitutional and international obligations to ensure dignified living conditions. The price increase is seen as a serious human rights issue, impacting people’s right to a decent life and participation in democracy.
Finally, SERAP stresses that the government has a legal duty to use the country’s resources to protect socio-economic rights, investigate and prosecute corruption, and ensure justice for victims. They note that NNPC recently raised petrol prices from about N600 to N855 or more per litre, following a supply shortage linked to a $6 billion debt and failure to remit oil revenues.
