The Nigerian National Petroleum Company (NNPC) Limited is being sued by the Socio-Economic Rights and Accountability Project (SERAP) for allegedly failing to account for and provide an explanation for the whereabouts of N825 billion and $2.5 billion intended for “refinery rehabilitation” and other oil revenues.
The lawsuit was brought in response to the scathing accusations detailed in the Auditor-General of the Federation’s 2021 audited report, which was released on November 27, 2024. Despite the $18 billion spent on the refineries, Aliko Dangote, president of the Dangote Group, also stated this week that NNPCL refineries might never operate again.
An order of mandamus to direct and compel the NNPCL to account for and explain the whereabouts of the claimed missing N825 billion and USD$2.5 billion of public monies allocated for “refinery rehabilitation” and repair is what SERAP is requesting in the lawsuit, which was filed last Friday at the Federal High Court in Lagos. A court order to “direct and compel the NNPCL to recover and remit to the federation account the alleged missing N825 billion and USD$2.5 billion of public funds meant for refinery rehabilitation and repair” is another request made by SERAP.
Additionally, SERAP is requesting that the court “direct and compel theNNPCL to identify those responsible for the missing oil money, surcharge them for the full amount involved, and hand them over to appropriate anticorruption agencies for investigation and prosecution.”
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