In a significant legal move, the Socio-Economic Rights and Accountability Project (SERAP) has taken the Nigerian National Petroleum Company Limited (NNPCL) to court. The lawsuit, filed at the Federal High Court in Abuja, addresses the failure to disclose crucial details regarding Nigeria’s daily oil production, exportation, and revenues since the removal of fuel subsidy in May 2023.
SERAP has requested the court to compel NNPC to unveil the daily barrels of oil produced and exported by Nigeria, along with the total revenues generated from oil production post-subsidy removal. The organization emphasizes that Nigerians have the right to access this information, emphasizing that transparency is vital to prevent the diversion of oil revenues into private hands.
Kolawole Oluwadare, Deputy Director of SERAP, affirmed that the lack of transparency surrounding Nigeria’s oil production and revenues is a matter of great concern. He stressed NNPC’s legal obligation to disclose the requested details, highlighting that increased transparency would foster public confidence in the equitable distribution of oil revenues for the benefit of all Nigerians.
Furthermore, SERAP argued that the absence of transparency has hindered Nigerians from reaping substantial benefits from the country’s abundant oil resources. The organization attributed the limited public benefits to rampant corruption and the prevailing culture of impunity among the perpetrators.
This legal action underscores the pressing need for transparency and accountability in the management of Nigeria’s oil wealth, highlighting the significance of public access to information that directly impacts the country’s economic well-being and the livelihood of its citizens.
