Nigeria’s foremost anti-corruption advocacy group, the Socio-Economic Rights and Accountability Project (SERAP), has brought legal action against the Nigerian National Petroleum Company Limited (NNPCL), calling for accountability over more than ₦825 billion and $2.5 billion earmarked for refinery repairs.
Filed at the Federal High Court in Lagos, the suit seeks an order compelling the state-owned oil company to recover and pay the allegedly missing funds into the national treasury. It also urges the court to require the NNPCL to identify and surcharge those deemed responsible, with referrals for further investigation by anti-graft agencies.
SERAP’s move is anchored on the Auditor-General of the Federation’s 2021 audit report, which raised red flags over significant unaccounted public funds. It also cites a blunt assessment by Aliko Dangote, who suggested Nigeria’s refineries may remain inoperable despite multibillion-dollar investments.
In its affidavit, SERAP contends that such financial discrepancies undermine Nigeria’s constitutional and legal obligations to its citizens. The organisation believes that forcing transparency would disrupt what it described as entrenched impunity in the management of the nation’s oil wealth.
Beyond the ₦825 billion and $2.5 billion, the Auditor-General’s report uncovered further anomalies: ₦343 billion deducted without proper documentation, ₦83 billion missing from joint venture income, and ₦204 billion deducted from oil royalties in 2021, all without clear justification.
SERAP argues that despite the country’s oil riches, widespread poverty and high public debt show how little the average Nigerian has benefited — a situation it blames in part on lack of accountability.
As of now, no hearing date has been announced, and NNPCL has not formally replied to the allegations.
