SERAP Sues NNPCL Over Alleged Failure to Account for N211 Trillion Oil Revenue
The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), seeking judicial intervention over the alleged failure of the state-owned oil company to account for N211 trillion in oil revenue reportedly flagged in recent audit reports.
According to SERAP, the legal action follows concerns raised over alleged discrepancies in the management of public funds and the need for greater transparency in Nigeria’s petroleum sector. The rights group is asking the court to compel NNPCL to explain the whereabouts of the funds, recover any missing public money where necessary, and ensure that those found culpable are held accountable in accordance with the law.
SERAP argued that Nigerians have a constitutional right to know how revenues generated from the country’s oil resources are managed. The organisation maintained that accountability and transparency are essential to strengthening public confidence, improving governance, and ensuring that national resources are deployed for economic development and public welfare.
The lawsuit also seeks orders directing the relevant authorities to investigate any alleged financial irregularities identified in the audit findings and to implement measures that would prevent future revenue leakages within the oil and gas sector. SERAP maintained that transparent management of petroleum revenues is critical to Nigeria’s economic growth and fiscal sustainability.
The case is expected to draw significant public attention as stakeholders continue to advocate stronger oversight of public institutions and improved accountability in the management of Nigeria’s oil wealth. The outcome of the litigation could further shape discussions on transparency, corporate governance, and financial accountability in the country’s energy sector.
