The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) “over its failure to account for approximately ₦5.9 billion reportedly spent on the incorporation, transition, and rebranding of NNPC into NNPCL.”
The NNPC reportedly paid N2.9 billion for incorporation expenses from petroleum product proceeds, while the National Petroleum Investment Management Services (NAPIMS) also charged N2.9 billion to crude oil revenue for the same purpose, bringing the total amount spent on the rebranding of NNPC to NNPCL to ₦5.9 billion.
The suit, number: FHC/ABJ/CS/1248/2026, was filed last week by the human rights group at the Federal High Court in Abuja.
In the suit, SERAP is seeking “an order of mandamus to direct and compel the NNPCL to account for about ₦5.9 billion allegedly spent on the rebranding of the NNPC to the NNPCL.”
The suit, filed on behalf of SERAP by its lawyers: Oluwakemi Agunbiade, Kehinde Oyewumi, and Andrew Nwankwo, reads in part: “The alleged spending of the ₦5.9 billion suggests a grave violation of the public trust and the provisions of the Nigerian Constitution 1999 [as amended], national anticorruption laws, and the country’s international anticorruption obligations.
“The failure to account for the spending of the ₦5.9 billion on rebranding from NNPC to NNPCL reflects a failure of NNPCL accountability more generally and is directly linked to the institution’s continuing failure to uphold transparency and accountability principles.
“The refusal or failure of the NNPCL to provide a detailed account of the expenditure undermines the right of access to information concerning the management of public resources.
“Senate Committee on Public Accounts reportedly raised serious concerns regarding the expenditure of the ₦5.9 billion described as incorporation and transition expenses allegedly incurred during the process of transforming the NNPC into the NNPCL.
“The Committee described the spending of the ₦5.9 billion as excessive, unjustifiable, and deserving of further explanation, investigation, and legislative scrutiny in the public interest.
“The transformation of the national oil company from the NNPC into the NNPCL occurred following the enactment of the Petroleum Industry Act (PIA) 2021, which required the corporation to become a commercially oriented limited liability company fully owned by the federal government.
“Section 13 of the Nigerian Constitution 1999 [as amended] requires all public institutions including the NNPCL to conform to and apply the provisions of Chapter II of the Constitution, while Section 15(5) mandates the public institutions to abolish all corrupt practices and abuse of power.
“Similarly, Section 16 of the Constitution requires the public institutions to ensure that the material resources of the nation are harnessed and distributed as best as possible to serve the common good.
“Articles 5 and 9 of the UN Convention against Corruption require Nigeria to ensure transparency and proper management of public funds.
“Article 21 of the African Charter on Human and Peoples’ Rights recognizes the right of peoples to freely dispose of their natural resources and provides that the misappropriation of such resources shall give rise to the right of the people to recovery and compensation.”
No date has been fixed for the hearing of the suit.
More details here...
