SERAP Drags NNPCL to Court Over Alleged ₦5.9bn Rebranding Expenditure
The Socio-Economic Rights and Accountability Project (SERAP) has instituted a suit against the Nigerian National Petroleum Company Limited (NNPCL), seeking judicial intervention to compel the oil firm to account for about ₦5.9 billion allegedly spent on the incorporation, transition and rebranding of the defunct Nigerian National Petroleum Corporation (NNPC) into NNPCL.
In the suit marked FHC/ABJ/CS/1248/2026 and filed at the Federal High Court, Abuja, SERAP is asking the court to order NNPCL to provide a detailed account of the expenditure, including the identities of contractors engaged, the services rendered and how the funds were utilised.
The rights group alleged that NNPC expended ₦2.9 billion from petroleum product proceeds on incorporation expenses, while the National Petroleum Investment Management Services (NAPIMS) reportedly charged another ₦2.9 billion to crude oil revenue for the same purpose, bringing the total expenditure to approximately ₦5.9 billion.
SERAP is further seeking an order compelling NNPCL to disclose the names and official positions of government officials who authorised and approved the expenditure, as well as clarify whether the spending complied with procurement laws and due process requirements.
According to the organisation, there is an overriding public interest in ensuring transparency and accountability in the management of public resources, particularly within the petroleum sector.
It argued that Nigerians have a right to know whether the expenditure represented value for money and whether the funds were lawfully spent in accordance with established procedures.
In court documents filed by its legal team comprising Oluwakemi Agunbiade, Kehinde Oyewumi and Andrew Nwankwo, SERAP contended that full disclosure would enable the public to assess the propriety of the expenditure and determine whether procurement and due process rules were observed.
The group also cited concerns reportedly raised by the Senate Committee on Public Accounts over the expenditure, which it said was described as excessive and deserving of further explanation and scrutiny.
SERAP maintained that the alleged failure to account for the funds undermines public trust and reflects broader concerns about transparency and accountability within NNPCL.
“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,” the organisation stated.
The group further argued that the expenditure, if not properly justified, could amount to a violation of constitutional provisions, anti-corruption laws and Nigeria’s international obligations on transparency and accountability.
It noted that the transition from NNPC to NNPCL followed the enactment of the Petroleum Industry Act (PIA) 2021, which transformed the national oil corporation into a commercially oriented limited liability company wholly owned by the Federal Government.
SERAP also cited provisions of the 1999 Constitution, the United Nations Convention against Corruption and the African Charter on Human and Peoples’ Rights in support of its case.
No date has been fixed for the hearing of the suit.
