Just In: SERAP Calls For Immediate Reversal Of Petrol Price Increase By Tinubu Administration

Just In: SERAP Calls For Immediate Reversal Of Petrol Price Increase By Tinubu AdministrationThe Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Ahmed Tinubu to instruct the Nigerian National Petroleum Company Limited (NNPCL) to immediately reverse the recent petrol price hike, which marks the second increase in just one month. In an open letter dated October 12, 2024, and signed by SERAP’s deputy director, Kolawole Oluwadare, the organization urged the president to take action while a suit challenging the NNPCL’s authority to raise petrol prices is pending before the Federal High Court in Abuja.

Previously, SERAP filed a lawsuit against both the president and the NNPCL, contesting the legality of the prior petrol price increase and demanding an investigation into allegations of corruption and mismanagement within the NNPCL. The organization argued that the latest price hike undermines the judicial process and could impede justice in the ongoing case.

SERAP emphasized that one of the fundamental principles of the rule of law is that it applies to all, including public officials and CEOs. The organization believes it is crucial to maintain the integrity and authority of the court as it deliberates on the matter.

In the letter, SERAP noted that since assuming office in May 2023, President Tinubu has repeatedly promised to govern Nigeria according to the Constitution and the rule of law. They warned that increasing petrol prices while legal proceedings are ongoing could damage public confidence in the judiciary and compromise the court’s ability to administer justice.

SERAP has requested an immediate reversal of the latest price hike and indicated that failure to comply could lead to legal actions against the government and the NNPCL. They highlighted that the recent increase in petrol prices—from N897 to N1,030 per litre—would disproportionately affect the most vulnerable Nigerians, further exacerbating their plight.

The letter also detailed the broader context of the price increase, linking it to a scarcity of fuel resulting from suppliers’ refusal to import petroleum products due to a reported $6 billion debt owed to them by the NNPCL. Additionally, it referenced a 2020 audit report by the Auditor General of the Federation, which revealed significant failures by the NNPCL to remit billions in oil revenues into the Federation Account, raising concerns about possible corruption.

SERAP concluded by reiterating the need for transparency and accountability from the NNPCL and urging the government to prioritize the protection of citizens’ rights to fair judicial recourse and the rule of law.

For more information on this article and other related posts from Bushradiogist, please join our WhatsApp channel by clicking this link https://whatsapp.com/channel/0029VaUumOODTkK7AZL1Fw3o. For advertisement inquiries only, kindly send a message to 090 1907 0863 on WhatsApp.