The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to instruct the Nigerian National Petroleum Company Limited (NNPCL) to reverse the recent petrol price hike, which marks the second increase within a month. The appeal, issued on Sunday, urges the reversal pending the conclusion of a Federal High Court case in Abuja challenging the legality of NNPCL’s authority to increase fuel prices.
SERAP Deputy Director, Kolawole Oluwadare, emphasized in a statement that the latest price increase, which brought the pump price of petrol from N897 to N1,030 per litre, undermines the integrity of the ongoing legal proceedings. SERAP had previously filed a lawsuit contesting the initial fuel price hike and seeking an investigation into allegations of corruption and mismanagement within the NNPCL.
“The recent price hike makes a mockery of the ongoing court case, potentially obstructing justice and eroding public trust in the judicial process,” Oluwadare said. He further noted that Tinubu’s administration has repeatedly committed to upholding the rule of law, a promise made during his inaugural speech. SERAP argues that allowing the court to adjudicate on the issue without further interference would maintain judicial integrity.
SERAP also warned that the price hike would disproportionately affect vulnerable Nigerians and called for the government to act in the public interest. The organization added that failure to reverse the increase could lead to further legal actions.
In addition, SERAP cited reports from the Auditor General’s office highlighting NNPCL’s failure to remit billions of dollars in oil revenues into the Federation Account, raising concerns about transparency and accountability within the state-owned petroleum company.
The group stressed that the Federal High Court’s ruling on the legality of the initial price hike is central to the public’s confidence in the government’s management of the petroleum sector.
