June 13, 2024
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OIL & GAS RENEWABLE ENERGY

SERAP Files Lawsuit Against NNPC for Failure to Disclose Oil Production and Revenue Details

The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against the Nigerian National Petroleum Company Limited (NNPCL) over its alleged failure to disclose critical information about Nigeria’s daily oil production, exportation, and total revenues generated since the removal of petrol subsidy in May 2023.

The lawsuit, identified as suit number FHC/ABJ/CS/1719/2023, was filed by SERAP at the Federal High Court in Abuja, following the organization’s previous request to Mele Kyari, the Group Chief Executive Officer of NNPCL, for transparency regarding post-subsidy removal oil revenues.

SERAP, in a letter dated December 9, 2023, had urged NNPCL to disclose the daily oil production, exportation amounts, and generated revenue within a seven-day deadline. As NNPCL failed to respond, SERAP proceeded with legal action, emphasizing that the lawsuit is in the public interest.

The lawsuit argues for transparency in revealing Nigeria’s daily oil production, exportation figures, and revenues remitted to the public treasury, asserting that such disclosures are necessary for compliance with the law and the public’s right to natural resources.

SERAP stressed that transparency in oil-related financial matters is crucial in combating corruption, ensuring access to public goods and services, and meeting anti-corruption obligations. The lawsuit comes amid concerns raised by former Central Bank Governor Sanusi Lamido Sanusi about the alleged failure of NNPCL to remit sufficient foreign exchange into the treasury post-fuel subsidy removal.

The organization highlighted the constitutional provisions and international commitments supporting the need for transparency in oil production and revenue figures to prevent fund diversion and foster public trust in utilizing revenues for the benefit of Nigerians.

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