The Socio-Economic Rights and Accountability Project (SERAP) has written an open letter to President Bola Tinubu, urging him to take immediate action to reverse the recent increase in petrol prices across Nigerian National Petroleum Company Limited (NNPCL) retail outlets.
The organisation also called on the president to direct the Attorney General and anti-corruption agencies to investigate allegations of corruption and mismanagement in the NNPC.
In the letter, SERAP expressed deep concerns that the petrol price hike constitutes a fundamental breach of constitutional guarantees and the country's international human rights obligations.
The organisation argued that the increase is not inevitable but stems from the persistent failure of successive governments to address allegations of corruption and mismanagement in the oil sector.
SERAP noted that the NNPC's alleged failure to remit oil revenues to the treasury, despite collecting $300 million 'bailout funds' from the Federal Government in August 2024, has contributed to the current crisis.
The organisation also highlighted the company's $6 billion debt to suppliers, which has led to petrol scarcity and price hikes.
"Direct the Attorney General of the Federation and Minister of Justice Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies "to probe the allegations of corruption and mismanagement in the NNPC, including the spending of the reported $300 million 'bailout funds' collected from the federal government in August 2024, and the $6 billion debt it owes suppliers, despite allegedly failing to remit oil revenues to the treasury."
The letter emphasised that investigating and prosecuting corruption in the oil sector would be entirely consistent with the Nigerian Constitution and the country's international anti-corruption obligations.
SERAP urged the president to take measures to address the situation within 48 days, failing which they would consider legal actions to compel compliance.
The organization's deputy director, Kolawole Oluwadare, signed the letter:
"The increase in petrol price has rendered already impoverished citizens incapable of satisfying their minimum survival needs. Rather than pursuing public policies to address the growing poverty and inequality in the country, and holding the NNPC to account for the alleged corruption and mismanagement in the oil sector, your government seems to be punishing the poor."
SERAP argued that the government is legally obligated to mobilise the maximum available resources to ensure people's socio-economic rights and protect the most vulnerable and disadvantaged Nigerians.
The organisation emphasized that investigating and prosecuting allegations of corruption and mismanagement in the NNPC would serve legitimate public interests.
