Posted by Since the fuel subsidy was removed in May 2023, the Socio-Economic Rights and Accountability Project (SERAP) has taken legal action against the Nigerian National Petroleum Company Limited (NNPCL) for concealing information regarding the country’s daily oil output, exports, and income.
In a case that was filed at the Federal High Court in Abuja, SERAP is requesting that the NNPC provide the daily production and export figures of oil barrels in Nigeria, as well as the total income generated from oil production following the elimination of fuel subsidies.
People of Nigeria “have a right to know” how much money the country makes from oil, says SERAP, adding that openness would “ensure that the revenues generated from Nigeria’s daily oil production and exportation are not diverted into private pockets.”
The daily oil production, exports, and income earned by Nigeria have mostly remained hidden, according to SERAP Deputy Director Kolawole Oluwadare.
The disclosure of the requested details is the NNPC’s legal obligation. He stated that if the government were more open, Nigerians would have more faith that the revenues would go toward improving their lives.
According to SERAP, the minimal benefits that Nigerians have received from the country’s enormous oil resources are partly attributable to the lack of openness.
According to SERAP, “ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption and the culture of impunity of perpetrators,” which continues to plague the country despite its huge oil reserves.