SERAP URGES TINUBU TO REVERSE PETROL PRICE HIKE PENDING COURT VERDICT. (PHOTO).

 SERAP urges Tinubu to reverse petrol price hike pending court verdict

The Socio-Economic Rights and Accountability Project has urged President Bola Tinubu to direct the Nigerian National Petroleum Company Limited to immediately reverse the second increase in petrol prices in one month, pending the hearing and determination of the suit before the Federal High Court, Abuja challenging the legality of the powers of the NNPCL to increase petrol prices.

According to a statement on Sunday by SERAP Deputy Director, Kolawole Oluwadare, the organisation had last month filed a lawsuit against the President and NNPCL “over the failure to reverse the unlawful increase in the pump price of petrol, and to probe the allegations of corruption and mismanagement in the NNPCL.”

The statement read, “The latest increase in petrol prices makes a mockery of the case pending before the Federal High Court, and creates a risk that the course of justice will be seriously impeded or prejudiced in this case.

“One of the fundamental principles of the rule of law is that it applies to everyone, including presidents and CEOs of public institutions.

“It is in the public interest to keep the streams of justice clear and pure, and to maintain the authority and integrity of the court in the case.”

SERAP also said allowing the Federal High Court to hear and determine the case would be entirely consistent with the letter and spirit of the Nigerian Constitution 1999 [as amended], “your oath of office and oft-repeated promises to uphold the rule of law.”

The letter, read in part, “SERAP notes that since assumption of office in May 2023 you have repeatedly promised, including in your inaugural speech, that ‘Nigeria will be impartially governed according to the Constitution and the rule of law.’

“Increasing petrol prices while the Federal High Court case is pending would prejudice and undermine the ability of the court to do justice in the case, damage public confidence in the court, prejudice the outcome of the case, as well as impede the course of justice.

“We would be grateful if the recommended measures are immediately taken following the receipt and/or publication of this letter, failing which SERAP shall consider contempt proceedings and/or other appropriate legal actions to compel your government and NNPCL to comply with our request in the public interest.”

SERAP also warned that if not immediately reversed, the latest increase in petrol prices would seriously undermine the integrity of the Nigerian Constitution and have serious consequences for the most vulnerable and disadvantaged Nigerians and the public interest.

“Protecting the right to a judicial recourse and due administration of justice is of utmost importance, being the cornerstone of an ordered society.

“The only way in which SERAP can have a fair and effective access to justice in this matter is to allow the court to decide, one way or the other, on the merits of the case before it.

“Reversing the latest increase in petrol prices would allow the court to render a decision on the central issues in the case, and protect the applicant’s rights and interests.

“The latest increase in petrol prices while the Federal High Court case is pending constitutes an interference with the right of SERAP to fairly and effectively pursue a judicial challenge to the decision by your government and NNPCL regarding the first increase in petrol prices” the statement added.

SERAP noted that according to its information, the Nigerian National Petroleum Company Limited recently increased the price of premium motor spirit (PMS), also known as petrol, across its retail outlets, saying that the retail price of petrol was increased from N897 to N1,030 per litre.

“This is the second increase in one month, and followed the increase in September from N600 to N855 per litre, and in some instances above N900 per litre.”

“The two increases followed a scarcity caused by the reported refusal by suppliers to import petroleum products for the NNPCL over a $6 billion debt.

“According to the recently published 2020 audited report by the Auditor General of the Federation (AGF), the Nigerian National Petroleum Corporation (NNPC) failed to remit over USD$2 billion and N164 billion of oil revenues into the Federation Account. The Auditor-General fears that the money may have been diverted into private pockets.

“The NNPCL reportedly failed and/or refused to remit N151,121,999,966. The NNPCL, without any justification, deducted the money from the oil royalties assessed for 2020 by the Department of Petroleum Resources, now Nigerian Upstream Petroleum Regulatory Commission (NUPRC).”

It added that the NNPCL has failed to account for the missing public funds, pointing out that the Auditor-General wants the money recovered and remitted into the Federation Account.

“The NNPCL also failed to remit USD$19,774,488.15 collected as government revenue to the Federation Account. The Auditor-General wants the NNPCL to account for the money, recover and remit it into the Federation Account, and to hand over those suspected to be involved to the ICPC and the EFCC.”

“The Nigerian Petroleum Development Company (NPDC) Ltd also reportedly failed to account for USD$2,021,411,877.47 and N13,313,565,786.49 of royalties collected from crude oil and gas sales and gas flare.”

“The Auditor-General wants the public funds fully recovered and remitted into the Federation Account and for those suspected to be responsible for the missing public funds to be handed over to the ICPC and the EFCC.”

“SERAP last month filed a lawsuit asking your government and NNPCL challenging the lawfulness of the increase in the pump price of petrol, and the failure to probe the allegations of corruption and mismanagement in the NNPCL.”

SERAP stressed that increasing petrol prices would compromise the interest of the Applicant in the Federal High Court case filed against the federal government and the NNPCL, as the second increase in one month directly touches on the central issues and the legality of the first increase, which the court is set to determine and rule upon.

“The core of the principle of judicial independence is the complete liberty of the judge to hear and decide the cases before them based on facts and in accordance with the law, without any improper interference, direct or indirect,” SERAP averred.