The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to instruct the Nigerian National Petroleum Company Limited (NNPCL) to immediately reverse the recent increase in petrol prices, pending the hearing and determination of an ongoing lawsuit before the Federal High Court in Abuja.

Last month, SERAP filed a lawsuit against President Tinubu and the NNPCL, challenging the legality of the NNPCL’s authority to increase petrol prices. The organization stated that the suit was filed “over the failure to reverse the apparently unlawful increase in the pump price of petrol, and to probe the allegations of corruption and mismanagement in the NNPCL.”

In an open letter dated October 12, 2024, and signed by SERAP’s Deputy Director Kolawole Oluwadare, the organization expressed concern over the latest price increase. The letter stated: “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 or prejudiced in this case.”

SERAP emphasized, “One of the fundamental principles of the rule of law is that it applies to everyone, including presidents and CEOs of public institutions.” The organization added, “It is in the public interest to keep the streams of justice clear and pure, and to maintain the authority and integrity of the court in the case.”

The letter continued, “Allowing the Federal High Court to hear and determine the case would be entirely consistent with the letter and spirit of the Nigerian Constitution 1999 [as amended], your oath of office, and oft-repeated promises to uphold the rule of law.”

SERAP reminded the President, “Since your assumption of office in May 2023, you have repeatedly promised, including in your inaugural speech, that ‘Nigeria will be impartially governed according to the Constitution and the rule of law.’”

The organization cautioned, “Increasing petrol prices while the Federal High Court case is pending would prejudice and undermine the ability of the court to do justice in the case, damage public confidence in the court, prejudice the outcome of the case, as well as impede the course of justice.”

The letter concluded with a warning: “We would be grateful if the recommended measures are immediately taken following the receipt and/or publication of this letter, failing which SERAP shall consider contempt proceedings and/or other appropriate legal actions to compel your government and NNPCL to comply with our request in the public interest.”

The group highlighted the implications of the price hike, stating, “If not immediately reversed, the latest increase in petrol prices would seriously undermine the integrity of the Nigerian Constitution and have serious consequences for the most vulnerable and disadvantaged Nigerians and the public interest.”

Furthermore, SERAP noted that the NNPCL recently raised the price of premium motor spirit (PMS), commonly known as petrol, across its retail outlets. The price increased from N897 to N1,030 per litre, marking the second increase in one month. This followed an earlier increase in September from N600 to N855 per litre, with some prices exceeding N900 per litre.

The two price hikes were attributed to a reported scarcity caused by suppliers refusing to import petroleum products for the NNPCL over a $6 billion debt. SERAP also referenced the Auditor General of the Federation’s 2020 audited report, which revealed that the NNPCL failed to remit over USD $2 billion and N164 billion in oil revenues to the Federation Account. The Auditor General expressed concerns that the funds may have been misappropriated and has called for their recovery and remittance into the Federation Account.