Reverse petrol value hike, probe NNPC, SERAP tells Tinubu

The Socio-Financial Rights and Accountability Venture has urged President Bola Tinubu to instruct the Nigerian Nationwide Petroleum Firm Restricted to right away reverse the current enhance within the pump value of Premium Motor Spirit, generally generally known as petrol.

In a letter dated 7 September 2024 and signed by its Deputy Director, Kolawole Oluwadare, SERAP claimed that the petrol value hike is illegitimate and unconstitutional.

In line with the SERAP, the petrol value hike represents a basic breach of constitutional ensures and the nation’s worldwide human rights obligations, particularly as residents face worsening financial hardships.

SERAP has additionally requested that President Tinubu direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, and related anti-corruption companies to research allegations of corruption and mismanagement inside the NNPCL.

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The letter reads partly: “As a substitute of implementing public insurance policies to deal with the rising poverty and inequality within the nation and holding the NNPCL accountable for alleged corruption and mismanagement within the oil sector, your authorities seems to be penalising the poor.

“The petrol value hike has made it even tougher for already impoverished residents to satisfy their primary wants. This enhance just isn’t inevitable, because it outcomes from the persistent failure of successive governments to sort out corruption and mismanagement within the oil sector, together with the impunity of suspected perpetrators.

“Corruption within the oil sector, coupled with an absence of transparency and accountability in the usage of public funds to help NNPCL operations, has led to repeated and illegal will increase in petrol costs.

“Holding the NNPCL accountable for alleged corruption and mismanagement would serve professional public pursuits. This value enhance is inflicting extreme hardship to these much less well-off. We’re involved that, as Nigeria’s financial state of affairs deteriorates, rising petrol costs will push individuals additional into poverty.”

The organisation has demanded that the President deal with its suggestions inside two days or face authorized motion to compel compliance.

It added: “We’d respect it if the advisable measures are applied inside 48 hours of receiving or publishing this letter. If we don’t obtain a response by then, SERAP will think about acceptable authorized motion to compel your authorities to adjust to our request within the public curiosity.

“Your authorities is legally obligated to research and prosecute allegations of corruption and mismanagement inside the NNPCL and to make sure justice and efficient treatments for victims of corruption. Investigating and prosecuting these allegations would align with each the Nigerian Structure and the nation’s worldwide anti-corruption obligations.

“Part 13 of the Nigerian Structure 1999 [as amended] mandates your authorities to evolve to, observe, and apply the provisions of Chapter 2 of the Structure. Part 15(5) requires your authorities to ‘abolish all corrupt practices’, together with these inside the NNPCL.

“In line with our data, the NNPCL just lately elevated the value of petrol from about N600 per litre to N855 per litre, with some situations exceeding N900 per litre. This obvious illegal enhance adopted a reported refusal by suppliers to import petroleum merchandise because of a $6 billion debt.

“The NNPCL reportedly did not remit USD $2.04 billion and N164 billion in oil revenues to the general public treasury, as documented within the just lately printed 2020 annual report by the Auditor-Common of the Federation.”