- SERAP sues NNPCL over missing ₦500bn oil revenue.
- NNPCL accused of remitting only ₦600bn from ₦1.1tn income.
- SERAP demands investigation, transparency, and accountability.
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) over its alleged failure to remit ₦500 billion to the Federation Account between October and December 2024.
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EKO HOT BLOG reports that the suit, filed at the Federal High Court in Lagos, follows revelations by the World Bank that while NNPCL generated ₦1.1 trillion in revenue from crude sales and other sources in 2024, only ₦600 billion was remitted. SERAP’s suit, numbered FHC/L/MSC/553/2025, seeks to compel NNPCL to account for the missing funds and cooperate with anti-corruption agencies to investigate the matter.
NNPCL had earlier responded to a Freedom of Information (FoI) request from SERAP by claiming exemption from the FoI Act. However, SERAP argues that as a public institution, NNPCL is constitutionally bound to transparency and accountability under Nigerian law and international anti-corruption agreements.
In its filing, SERAP calls for the identification and prosecution of individuals responsible for the missing funds and stresses that the unremitted amount has worsened Nigeria’s economic instability, contributed to deficit spending, and hindered access to basic public services.
Citing a recent Supreme Court ruling that affirms the applicability of the FoI Act to public records, SERAP urged the court to enforce transparency measures in this case. The group also emphasized that the missing oil revenue undermines public trust and Nigeria’s obligations under the UN Convention against Corruption.
SERAP’s legal team, including Kolawole Oluwadare, Oluwakemi Oni, and Valentina Adegoke, argued that the NNPCL’s actions violate the Nigerian Constitution and deny citizens their right to information and social welfare.
No date has yet been set for the hearing.
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