SERAP has urged President Tinubu to reverse the recent unlawful petrol price hike by NNPCL, which increased from N600 to N855 per liter. The organization also demands an investigation into corruption within NNPCL, linking the price hike to broader issues of poverty and inequality in Nigeria.
The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to intervene and direct the Nigerian National Petroleum Company Limited (NNPCL) to reverse what it describes as an "illegal and unconstitutional" rise in petrol prices. Recently, the cost of premium motor spirit (PMS) surged from around N600 to approximately N855 per liter, with some outlets charging even more than N900.
In a statement by SERAP’s Deputy Director, Kolawole Oluwadare, the organization expressed concerns about the adverse effects of this price hike on the already struggling population, particularly the economically vulnerable. SERAP argues that the increase violates constitutional guarantees and international human rights obligations, urging the government to hold the NNPCL accountable for alleged corruption and mismanagement, including a $300 million bailout from the Federal Government and a $6 billion debt to suppliers.
Oluwadare emphasized that the ongoing rise in fuel prices exacerbates poverty and undermines citizens' rights to a dignified life. He stated that this price hike places an undue burden on the marginalized, further deepening their struggles.
SERAP has given the government 48 hours to respond to its demands, warning that it will consider legal action if necessary. The organization insists that transparency and accountability in the oil sector are crucial to alleviating the economic hardships faced by Nigerians and restoring their rights to a better standard of living.
