The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit at the Federal High Court in Lagos, seeking to compel the Nigerian National Petroleum Company Limited (NNPCL) to explain the whereabouts of over ₦825 billion and $2.5 billion reportedly allocated for the repair and rehabilitation of refineries.
The case, which is yet to be assigned to a judge, also asks the court for an order of mandamus directing the NNPCL to trace, recover, and remit the allegedly missing funds into the federation account.
SERAP further requested that the court order the NNPCL to identify those responsible for the missing oil revenue, recover the sums from them directly, and refer them to anti-corruption agencies for investigation and prosecution.
The legal action is based on the 2021 audit report from the Auditor-General of the Federation, published on 27 November 2024, which raised serious concerns about the funds. The case also references a statement from Aliko Dangote, President of the Dangote Group, who suggested the NNPCL refineries might never function again, despite $18 billion in investment.
In a sworn affidavit, SERAP argued these allegations point to violations of the Nigerian Constitution, anti-corruption laws, and international obligations the country has undertaken. It also maintained that holding those responsible accountable would challenge widespread impunity and help return the funds for the benefit of ordinary Nigerians.
The group said billions of dollars meant for the refineries have brought few benefits to citizens, while mismanagement has deepened poverty and worsened public deficits.
The Auditor-General’s report concluded that NNPCL had failed to properly account for ₦825 billion and $2.5 billion, alongside other concerning financial discrepancies: over ₦343 billion deducted from domestic crude oil sales for pipeline maintenance without adequate explanation; more than ₦83 billion missing from joint venture income between 2016 and 2020; and over ₦204 billion taken as oil royalty deductions in 2021 without justification.
No hearing date has been scheduled, and NNPCL has yet to respond formally to the lawsuit.
