• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Sectors Legal & Regulations

SERAP drags NNPCL to court over failure to account for Nigeria’s daily oil output, revenues 

Cyrus Ademola by Cyrus Ademola
December 24, 2023
in Legal & Regulations
SERAP issues 48 hours ultimatum to Tinubu to reverse ban on media houses, journalists
Share on FacebookShare on TwitterShare on Linkedin

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited  (NNPCL) over the “failure to disclose details of Nigeria’s daily oil production, exportation and the total amounts of revenues generated from oil since the removal of subsidy on petrol in May 2023.” 

The suit, with number FHC/ABJ/CS/1719/2023, was filed by SERAP on Friday at the Federal High Court in Abuja. 

The advocacy group had earlier urged Mele Kyari, NNPCL chairman, to disclose how much of the revenues generated from oil have been remitted to the public treasury since the removal of subsidy on petrol. 

RelatedStories

Mele Kyari,

Court freezes Mele Kyari’s bank accounts over alleged fraud, money laundering  

August 20, 2025
Seplat

Seplat completes first domestic LPG supply from Bonny River Terminal, delivers 12,600 metric tons 

August 19, 2025

This disclosure was contained in a letter dated December 9, 2023 and signed by SERAP Deputy Director, Kolawole Oluwadare, where the organization noted that there is a legitimate public interest in disclosing the information sought. 

In the letter, SERAP gave NNPCL a seven-day deadline to respond and provide an audit to the public on the amount of oil produced daily as well as the revenue generated from oil proceeds since the removal of the subsidy.  

What SERAP is Saying  

Following their failure to respond to the letter, the group filed a lawsuit, claiming that the action was in the public interest.  

The suit, filed on behalf of SERAP by its lawyers, Kolawole Oluwadare and Andrew Nwankwo, read in part:  

  • “Nigeria’s daily oil production, exportation and the revenues generated have been mostly shrouded in secrecy. 
  • “Disclosing the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would also ensure that the NNPC operates within the law. 
  • “Transparency and accountability in the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would improve the enjoyment by Nigerians of their right to natural wealth and resources. 
  • “The public interest in publishing the information sought outweighs any considerations to withhold the information. 
  • “Despite the country’s enormous oil wealth, ordinary Nigerians have derived very little benefit from oil money primarily because of widespread grand corruption, and the culture of impunity of perpetrators. 
  • “Combating the corruption epidemic in the oil sector would alleviate poverty, improve access of Nigerians to basic public goods and services, and enhance the ability of the government to meet its human rights and anti-corruption obligations. 
  • “Section 15(5) of the Nigerian Constitution 1999 (as amended) requires public institutions and officials to abolish all corrupt practices and abuse of power. Section 16(2) of the Nigerian Constitution further provides that, ‘the material resources of the nation are harnessed and distributed to serve the common good.’ 
  • “Section 13 of the Nigerian Constitution 1999 imposes clear responsibility on the NNPCL to conform to, observe and apply the provisions of Chapter 2 of the constitution. 
  • “Nigeria has made legally binding commitments under the UN Convention against Corruption and the African Union Convention on Preventing and Combating Corruption to ensure transparency and accountability in the management of public resources. 
  • “Articles 5 and 9 of the UN Convention against Corruption also impose legal obligations on the NNPCL to ensure proper management of public affairs and public funds. These commitments ought to be fully upheld and respected. 
  • “The NNPCL has failed to disclose the amounts of barrels of oil the country produces and exports. The NNPCL has also reportedly failed to publish details of revenues generated from the production and exportation of oil and the amounts of revenues remitted to the public treasury as required by Nigerian laws.” 

Backstory 

In a letter dated December 9, 2023 and signed by SERAP Deputy Director, Kolawole Oluwadare, the organization noted that there is a legitimate public interest in disclosing the daily production and revenue. 

In addition, former Governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, had earlier alleged that “the NNPCL is failing to remit enough foreign exchange into the treasury despite the removal of fuel subsidy,” asking: “Where is the money?”
SERAP said:  

  • “Opacity in the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would have negative impacts on the fundamental interests of the citizens and the public interest.
  • “Transparency would ensure that the revenues are not diverted into private pockets, and increase public trust that the money would be used to benefit Nigerians.” 

Follow us for Breaking News and Market Intelligence.
Tags: NNPCLSERAP
Cyrus Ademola

Cyrus Ademola

  • Cyrus Ademola is an energy and economy analyst with over half a decade experience in journalism, research-based oped, economic reportage and energy analysis. His works have been featured on different media outlets, covering from oil and gas to business trends.

Related Posts

Mele Kyari,
Crime and Insecurity

Court freezes Mele Kyari’s bank accounts over alleged fraud, money laundering  

August 20, 2025
Seplat
Energy

Seplat completes first domestic LPG supply from Bonny River Terminal, delivers 12,600 metric tons 

August 19, 2025
President Tinubu flags off West Africa Gas Limited’s 40,000 CBM LPG Vessel 
Energy

President Tinubu flags off West Africa Gas Limited’s 40,000 CBM LPG Vessel 

August 18, 2025
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Energy

Group sues NNPC Chief Financial Officer over N140 billion OVH Energy deal 

August 18, 2025
Proposed 5% levy on companies for community project might lead to exits – Afrexim Bank
Energy

NNPCL wins Ararume case, avoids N5 billion damages 

August 14, 2025
Ojulari unveils NNPC’s $60bn investment drive, eyes 3mbpd crude production by 2030 
Energy

NNPCL, Ojulari and the interloping cabals

August 11, 2025
Next Post
Dauda Lawal , Zamfara State

Zamfara allocates N7.2 billion for completion of 10-storey Gusau Investment House 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

otd
nairametrics
Emple
Palmpay
first bank








DUNS

Recent News

  • Send App by Flutterwave unveils ‘share and earn’ referral program 
  • TD Africa secures AI ISO Certifications 
  • World’s top 20 richest countries by total household wealth 

Follow us on social media:

Recent News

Send App by Flutterwave unveils ‘share and earn’ referral program 

Send App by Flutterwave unveils ‘share and earn’ referral program 

August 20, 2025
TD Africa secures AI ISO Certifications 

TD Africa secures AI ISO Certifications 

August 20, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics