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SERAP drags NNPC to court over failure to account for Nigeria’s oil revenue

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The Socio-Economic Rights and Accountability Project, SERAP, has dragged the Nigerian National Petroleum Company Limited, NNPCL, to court for failing to reveal details of Nigeria’s daily oil production, exportation and revenues since the removal of fuel subsidy in May 2023

In the suit filed at the Federal High Court in Abuja, SERAP is seeking an order to compel NNPC to disclose the number of barrels of oil Nigeria produces and exports daily, and the total revenues from oil production since the removal of fuel subsidy.

According to SERAP, Nigerians “have a right to know” the details of the country’s oil production and revenues, stating that transparency would “ensure that the revenues generated from Nigeria’s daily oil production and exportation are not diverted into private pockets.”

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SERAP’s Deputy Director, Kolawole Oluwadare, had alleged that Nigeria’s daily oil production, exportation, and the revenues generated have been mostly shrouded in secrecy.

“The NNPC has a legal responsibility to disclose the details sought. Transparency would increase public confidence that the revenues would benefit Nigerians,” he said.

SERAP also argued that the lack of transparency has contributed to the limited benefits Nigerians have derived from the country’s vast oil wealth.

“Despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the culture of impunity of perpetrators,” SERAP stated.

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