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JUST IN: SERAP Urges NNPC Chief To Reveal Nigeria’s Oil Revenue After Fuel Subsidy Removal
EKO HOT BLOG reports that Socio-Economic Rights and Accountability Project (SERAP) has urged the CEO of NNPC, Mele Kolo Kyari, to disclose Nigeria’s daily oil production, export volumes, and revenue since the removal of petrol subsidy in May 2023.
This request follows allegations of insufficient foreign exchange remittance by the NNPC into the treasury, voiced by former CBN Governor Sanusi Lamido Sanusi.
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In a Freedom of Information letter, SERAP pressed for specifics on revenue remittance since the subsidy removal and payment details of an alleged N11 trillion subsidy.
Highlighting the importance of transparency, SERAP emphasized its significance in preventing diversion of funds and building public trust.
SERAP stressed the need for transparency in oil-related finances, citing concerns about the misuse of Nigeria’s vast oil wealth, which hasn’t adequately benefited citizens due to corruption and lack of accountability.
They also cited legal obligations under Nigeria’s Constitution, the Freedom of Information Act, and international anti-corruption commitments.
SERAP threatened legal action if the NNPC fails to comply within seven days, emphasizing that transparency is crucial for citizens’ rights, social justice, and good governance.
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They concluded by demanding the NNPC to fulfill its legal obligations to disclose information regarding oil production, exportation, and revenue remittance for the benefit of the Nigerian public.
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