The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Nigerian National Petroleum Company Limited (NNPCL) to court over its alleged failure to account for about ₦5.9 billion reportedly spent on incorporating, transitioning, and rebranding NNPC into NNPCL.
The suit, marked FHC/ABJ/CS/1248/2026, was filed last week at the Federal High Court in Abuja.
SERAP is seeking an order of mandamus compelling NNPCL to account for the funds allegedly expended on the rebranding exercise.
The organisation claims NNPC reportedly paid ₦2.9 billion for incorporation expenses from petroleum product proceeds, while the National Petroleum Investment Management Services charged another ₦2.9 billion to crude oil revenue for the same purpose, bringing the total to ₦5.9 billion.
The rights group wants the court to direct NNPCL to provide a full reconciliation statement showing how the money was spent, the contractors involved, and how the funds were used in the rebranding process.
SERAP Wants Names Of Officials Who Approved Spending
SERAP is also asking the court to compel NNPCL to reveal the identities and official positions of government officials who authorised the release of the funds, and to clarify whether the spending followed due process and procurement laws.
According to the group, there is strong public interest in disclosing these details, stressing that NNPCL has a duty to explain whether the expenditure represented value for money and complied with relevant due process requirements.
The organisation insisted that Nigerians deserve to know who approved the funds, who received them, what services were rendered, and whether procurement rules were followed, adding that such disclosure would help the public determine if the spending was properly authorised.
It further argued that given the scale of the expenditure and the need for transparency in the petroleum sector, an urgent and thorough disclosure is required.
‘Grave Violation Of Public Trust’ – SERAP
The suit, filed by SERAP’s lawyers Oluwakemi Agunbiade, Kehinde Oyewumi, and Andrew Nwankwo, described the alleged spending as a serious issue requiring explanation.
According to the suit, the alleged expenditure points to a grave violation of public trust and breaches provisions of the 1999 Constitution (as amended), Nigeria’s anti-corruption laws, and its international anti-corruption obligations.
It added that NNPCL’s failure to account for the ₦5.9 billion reflects a broader pattern of poor accountability and undermines citizens’ right to access information on how public resources are managed.
SERAP noted that the Senate Committee on Public Accounts had previously raised concerns over the same ₦5.9 billion, describing it as excessive, unjustifiable, and deserving of further investigation and legislative scrutiny.
The group recalled that NNPC’s transformation into NNPCL followed the enactment of the Petroleum Industry Act 2021, which mandated the corporation to become a commercially run, fully government-owned limited liability company.
SERAP cited Sections 13, 15(5) and 16 of the 1999 Constitution, which require public institutions to uphold transparency, eliminate corrupt practices, and ensure that national resources serve the common good. It also referenced Articles 5 and 9 of the UN Convention against Corruption and Article 21 of the African Charter on Human and Peoples’ Rights, which deal with proper management of public funds and natural resources.
No date has been fixed for the hearing of the suit.
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