The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to reverse the recent increase in petrol prices, calling it “apparently illegal and unconstitutional.” In a statement, SERAP also demanded that the President direct the Attorney General and anti-corruption agencies to investigate allegations of corruption and mismanagement in the Nigerian National Petroleum Company Limited (NNPCL).
SERAP argued that the price hike has caused immense hardship for Nigerians, particularly the poor, and is a fundamental breach of constitutional guarantees and international human rights obligations. The organization emphasized that the increase is not inevitable and stems from the persistent failure of successive governments to address corruption and mismanagement in the oil sector.
The statement read, “Rather than pursuing public policies to address growing poverty and inequality, your government seems to be punishing the poor. The increase in petrol price has rendered already impoverished citizens incapable of satisfying their minimum needs for survival.”
SERAP gave the President 48 days to take action, threatening legal action if their demands are not met. The organization emphasized that investigating and prosecuting corruption in the oil sector would be consistent with the Nigerian Constitution and international anti-corruption obligations.
The price increase, which rose to N855 per liter from around N600, followed a scarcity caused by suppliers’ refusal to import petroleum products due to a reported $6 billion debt owed by the NNPCL. The company has also been accused of failing to remit oil revenues into the public treasury.
