“Promptly publish details of barrels of oil Nigeria produces and exports every day and the total amounts of revenues generated from oil since the removal of subsidy on petrol in May 2023,” the Socio-Economic Rights and Accountability Project (SERAP) has urged Mr. Mele Kolo Kyari, Group Chief Executive Officer of Nigerian National Petroleum Company (NNPC) Limited, to release.
“You are obligated to reveal the amount of oil revenue that has been transferred to the public coffers following the elimination of petrol subsidies,” SERAP admonished him.
In addition, SERAP urged him to “disclose details of payment of N11 trillion as subsidy and to clarify allegations that the NNPCL has failed to remit revenues generated from oil to the public treasury since the removal of subsidy on petrol.”
“The NNPCL is failing to remit enough foreign exchange into the treasury despite the removal of fuel subsidy,” asked Sanusi Lamido Sanusi, a former governor of the Central Bank of Nigeria (CBN), who made the accusation last week.
The letter, which was signed by SERAP deputy director Kolawole Oluwadare and dated 9 December 2023, stated that the organisation believes “there is a legitimate public interest in disclosing the information sought.”
This is what SERAP had to say: “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.”
“The public would have more faith that the funds would be utilised for the benefit of Nigerians if there was transparency to prevent their diversion into private pockets.”
“Any considerations to withhold the information are outweighed by the public interest in publishing the information sought,” the letter said in part. We kindly request that the suggested actions be implemented no later than seven days after this letter is received or published.
In the event that SERAP does not receive a response from you by that date, it will investigate possible legal measures to force the NNPCL to fulfil our requests, since it is in the best interest of the public.