Socio-Economic Rights and Accountability Project (SERAP) has called on Mr. Mele Kolo Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, to publicly disclose details regarding the daily Production and Exportation of barrels of Oil in Nigeria, along with the Revenues generated since the removal of the Petrol Subsidy in May 2023.
SERAP has urged transparency in revealing how much of the Oil-generated Revenues have been remitted to the Public treasury after the Subsidy removal.
The Organization also seeks clarification on the Alleged N11 trillion payment as Subsidy and addresses the accusations of the NNPCL’s failure to Remit Oil-generated Revenues to the Public treasury since the Subsidy removal on Petrol.
Former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, recently raised concerns about the NNPCL’s Inadequate remittance of Foreign exchange into the Treasury following the Fuel Subsidy removal.
In a letter signed by SERAP Deputy Director, Kolawole Oluwadare, the Organization emphasized the significant Public Interest in obtaining this Information.
SERAP argued that transparency is crucial to prevent the Diversion of Revenues into private hands, instill public trust, and ensure that the Funds benefit the Nigerian people.
The Organization stressed that transparency and accountability in NNPC’s operations are vital for Nigerians to enjoy their right to Natural wealth and Resources.
SERAP contends that combatting Corruption in the Oil Sector will alleviate poverty, enhance access to Public Goods and Services, and enable the Government to fulfill its Human rights and Anti-corruption obligations.
SERAP cited Constitutional provisions, including Section 15(5) of the Nigerian Constitution, which requires Public Institutions and Officials to eliminate Corrupt practices and abuse of Power.
Section 16(2) further emphasizes the harnessing and Distribution of the Nation’s resources for the common good.
