By Our Reporter
The Socio-Economic Rights and Accountability Project (SERAP) is calling for an immediate reversal of the recent petrol price hike.
The organization has urged President Bola Tinubu to instruct the Nigerian National Petroleum Company Limited (NNPCL) to roll back the latest increase, which occurred twice in a month, until the Federal High Court in Abuja rules on the legality of NNPCL’s authority to raise prices.
Recent changes have seen petrol prices at NNPCL outlets in Lagos rise from ₦855 to ₦998 per litre, and from ₦897 to ₦1,030 in Abuja. Some stations in Lagos are charging as much as ₦1,050.
SERAP previously filed a lawsuit against the president and NNPCL for failing to reverse what it claims is an unlawful price increase, as well as for not investigating allegations of corruption and mismanagement within NNPCL.
In an open letter dated October 12, 2024, signed by Deputy Director Kolawole Oluwadare, SERAP stated, “This latest price increase undermines the ongoing court case and risks prejudicing the course of justice.”
The letter, shared with Channels Television, emphasized the importance of the rule of law, stating, “It applies to everyone, including presidents and CEOs of public institutions.”
SERAP argued that allowing the court to address the case aligns with the Nigerian Constitution and Tinubu’s pledges to uphold justice. It highlighted that continuing to raise petrol prices while litigation is ongoing would damage public trust in the judiciary and complicate the court’s ability to render a fair decision.
The organization warned that if no action is taken, it may pursue contempt proceedings or other legal measures to enforce compliance with its request. It stressed that reversing the price hike is essential to protect the rights of citizens, especially the vulnerable, and to ensure a transparent judicial process.
SERAP reiterated that the recent increases reflect deeper issues within the NNPCL, including significant unaccounted funds and allegations of corruption as noted in an Auditor General’s report.
The lawsuit, numbered FHC/ABJ/CS/1361/2024, includes the Attorney General as a respondent and challenges both the legality of the price hikes and the lack of accountability for missing revenues.
SERAP’s position is clear: any increase in petrol prices during this legal process undermines the judicial independence necessary for a fair resolution of the case.