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Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) Limited over the alleged failure to account for and explain the whereabouts of the alleged missing N825bn and $2.5bn meant for ‘refinery rehabilitation’ and other oil revenues.
The suit followed the damning allegations documented in the 2021 audited report by the Auditor-General of the Federation, which was published on 27 November 2024. Aliko Dangote, president of the Dangote Group also last week said that NNPCL refineries may never work again, despite the $18 billion spent on the refineries.
In the suit filed last Friday at the Federal High Court in Lagos, SERAP is seeking: “an order of mandamus to direct and compel the NNPCL to account for and explain the whereabouts of the alleged missing N825 billion and USD$2.5 billion of public funds meant for ‘refinery rehabilitation’ and repair.”
SERAP is also asking the court to “direct and compel the NNPCL to recover and remit to the federation account the alleged missing N825 billion and USD$2.5 billion of public funds meant for refinery rehabilitation and repair.”
SERAP is also asking the court to “direct and compel the NNPCL to identify those responsible for the missing oil money, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies for investigation and prosecution.”
In the suit, SERAP is arguing that: “The grim allegations by the Auditor-General [and Mr Aliko Dangote] suggest a grave violation of the public trust and the provisions of the Nigerian Constitution, national anticorruption laws, and the country’s international human rights and anticorruption obligations.”
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SERAP is also arguing that, “granting the reliefs sought would strike a blow against the impunity of those responsible for the missing oil money meant to repair the country’s refineries and ensure that the money is returned for the sake of NNPCL’s victims–Nigerians.”
According to SERAP, “These grim allegations have also undermined economic development of the country, trapped the majority of Nigerians in poverty, and contributed to high levels of deficit spending by the government.”
SERAP is also arguing that, “The vast majority of Nigerians have seen little benefit from their country’s oil wealth, even as the NNPCL continues to fail to account for the missing billions of dollars that are desperately needed to repair or replace the country’s dysfunctional refineries.”
According to SERAP, “The Auditor-General has for many years documented reports of disappearance of public funds from the NNPCL. Nigerians continue to bear the brunt of these missing public funds meant for refinery rehabilitation.”
The suit was filed on behalf of SERAP by its lawyers, Kolawole Oluwadare, Ms Oluwakemi Oni, and Ms Valentina Adegoke.
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