SERAP Urges Tinubu to Reverse Fuel Price Hike, Calls for Probe into NNPCL Mismanagement

The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to reverse the recent increase in the pump price of Premium Motor Spirit (PMS), describing it as “illegal and unconstitutional.”

The group criticized the Nigerian National Petroleum Company Limited (NNPCL) for disregarding the plight of ordinary Nigerians who are struggling to make ends meet, noting that the hike only adds to their financial burden.

In a statement issued by Deputy Director Kolawole Oluwadare, SERAP called for an investigation into alleged corruption and mismanagement within NNPCL, including the handling of $300 million in bailout funds from the Federal Government and a $6 billion debt owed to suppliers.

The organization emphasized that the government’s failure to address corruption in the oil sector is directly responsible for the increase in fuel prices.

“Corruption in the oil sector has resulted in persistent and unlawful hikes in petrol prices,” the statement read.

SERAP further highlighted that the increase has pushed already impoverished citizens into deeper financial strain,

stating that “the increase in petrol prices has rendered citizens incapable of meeting their basic survival needs.”

The group urged the government to prioritize public welfare over policies that seem to punish the poor, arguing that the ongoing lack of transparency in the oil sector undermines public trust and economic stability.