1 month ago
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The Socio-Economic Rights and Accountability Project has called on President Bola Tinubu to immediately reverse the latest increase in petrol prices implemented by the Nigerian National Petroleum Company Limited, pending the outcome of a lawsuit challenging the price hike.
This appeal follows the second rise in fuel prices within a month, pushing the cost of petrol from N897 to N1,030 per litre, and sparking public outrage.
In an open letter dated October 12, 2024, and signed by its Deputy Director, Kolawole Oluwadare, SERAP warned that the recent increase undermines the integrity of an ongoing case before the Federal High Court in Abuja.
SERAP had previously filed a lawsuit against President Tinubu and NNPCL, questioning the legality of the price hikes and calling for an investigation into alleged corruption and financial mismanagement within the company.
“The latest increase in petrol prices makes a mockery of the case pending before the Federal High Court, and creates a risk that the course of justice will be seriously impeded,” SERAP’s letter stated.
The organisation emphasised that raising prices while the court is deliberating on the issue could prejudice the outcome of the case and harm public confidence in Nigeria’s judiciary.
SERAP’s lawsuit, filed last month, also targets allegations of widespread financial mismanagement within the NNPCL.
A recent report from the Auditor General of the Federation accused the state-run oil company of failing to remit over $2bn in oil revenues, raising concerns about possible corruption.
SERAP has called for the funds to be recovered and for those responsible to be held accountable.
The price hikes come at a time of heightened economic strain in Nigeria, where fuel costs significantly impact transportation and the price of goods.
Many Nigerians have expressed frustration over the rising costs, which they say disproportionately affect the country’s most vulnerable populations.
SERAP warned that allowing the fuel price increase to stand while the court case is ongoing would violate the principles of justice and fairness.
“Protecting the right to judicial recourse and the due administration of justice is of utmost importance,” the letter stated, adding that immediate action is necessary to maintain public trust in the legal system.
The organisation has threatened to pursue contempt proceedings and other legal actions if the government fails to reverse the price hike.
As the Federal High Court prepares to hear the case, the decision is expected to have far-reaching implications for both the Nigerian economy and the transparency of public institutions.
