Juliet Jacob Ochenje
The Socio-Economic Rights and Accountability Project (SERAP), has asked the Group Chief Executive Officer (GCEO), Nigerian National Petroleum Company Limited Group (NNPCL) Mele Kolo Kyari, to make public the total amount of revenues gotten from oil since the removal of subsidy on petrol in May 2023.
This follows a query by a former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, over NNPCL’s failure to remit enough foreign exchange into the treasury despite the removal of fuel subsidy.
“Where is the money?” he queried.
The request was contained in a letter signed by SERAP’s deputy director, Kolawole Oluwadare, and dated December 9, 2023, and published on SERAP official X handle on Sunday.
“Opacity in the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would have negative impacts on the fundamental interests of the citizens and the public interest,” the letter read.
“We would be grateful if the recommended measures are taken within 7 days of the receipt and or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel the NNPCL to comply with our requests in the public interest.
“SERAP is seriously concerned that years of allegations of corruption and mismanagement in the oil sector and entrenched impunity of perpetrators have undermined public trust and confidence in the NNPCL.
“Ensuring transparency and accountability in the operations of the NNPCL would improve the enjoyment by Nigerians of their right to natural wealth and resources.
“SERAP is concerned that despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the culture of impunity of perpetrators.
“Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations.
“SERAP Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions and officials to abolish all corrupt practices and abuse of power.
“The NNPCL has also reportedly failed to publish details of revenues generated from the production and exportation of oil and the amounts of revenues remitted to the public treasury as required by Nigerian laws.”
