According to Vanguard News, the Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company (NNPC) over what it describes as the company’s failure to account for and publish detailed records of Nigeria’s oil revenue and expenditure. The legal action, filed at the Federal High Court in Abuja, seeks an order compelling the NNPC to disclose and explain the spending of public funds under its control.
In a statement announcing the suit, SERAP said, “The NNPC is a public institution that has a legal obligation to ensure transparency and accountability in the management of the country’s oil wealth. The continued secrecy surrounding the company’s operations undermines public trust and violates the constitutional right to information.” The organisation added that its repeated requests for detailed financial records had been ignored by the company.
The lawsuit is part of SERAP’s broader campaign for fiscal transparency in Nigeria’s oil sector, which it claims has long been plagued by corruption and mismanagement. “We are asking the court to direct and compel the NNPC to publish comprehensive reports on oil sales, subsidy payments, and other related financial transactions,” SERAP’s legal team stated. The organisation argues that such disclosures are necessary to ensure that oil revenue is used to benefit all Nigerians, not just a select few.
The NNPC has yet to respond publicly to the lawsuit, but insiders say the company maintains it is no longer bound by the Freedom of Information Act, following its transition into a limited liability company under the Petroleum Industry Act. However, SERAP counters that “this restructuring does not strip the company of its accountability to the Nigerian people.”
Observers say the case could set a significant precedent for corporate transparency in Nigeria, particularly in a sector that contributes the largest share of the country’s revenue. “The people deserve to know how their resources are managed,” SERAP said. “This lawsuit is a step toward ensuring that public funds are not squandered in secrecy.”
SOURCE: Opera
