Reverse Petrol Price Hike, Probe NNPC, SERAP Tells Tinubu. The Socio-Economic Rights and Accountability Project (SERAP) has recently called on President Bola Tinubu to reverse the recent petrol price hike and investigate the Nigerian National Petroleum Company Limited (NNPCL). This demand comes amid growing concerns over the economic impact of rising fuel prices on Nigerian citizens and allegations of corruption within the NNPCL.
The Call for Action
In a letter dated September 7, 2024, SERAP urged President Tinubu to instruct the NNPCL to immediately reverse the recent increase in the pump price of Premium Motor Spirit (PMS), commonly known as petrol. SERAP argues that the price hike is illegal and unconstitutional, representing a fundamental breach of constitutional guarantees and Nigeria’s international human rights obligations.
Economic Hardships
The recent increase in petrol prices has exacerbated the economic hardships faced by many Nigerians. With the cost of living already high, the hike in fuel prices has made it even more difficult for citizens to meet their basic needs. SERAP emphasizes that this increase is not inevitable but results from the persistent failure of successive governments to tackle corruption and mismanagement in the oil sector.
Allegations of Corruption
SERAP has also called for an investigation into allegations of corruption and mismanagement within the NNPCL. The organization has requested that President Tinubu direct the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, and relevant anti-corruption agencies to probe these allegations. According to SERAP, holding the NNPCL accountable for alleged corruption would serve legitimate public interests and help alleviate the economic burden on citizens.
The Impact on Citizens
The petrol price hike has had a significant impact on the daily lives of Nigerians. Many citizens, whose income is below the poverty threshold , find it increasingly difficult to afford basic necessities. The increase in fuel prices has led to higher transportation costs, which in turn affects the prices of goods and services. This chain reaction has made life even more challenging for the average Nigerian.
SERAP’s Legal Threat
SERAP has given President Tinubu a 48-hour ultimatum to address its recommendations or face legal action. The organization has stated that it will consider appropriate legal measures to compel the government to comply with its request in the public interest. SERAP argues that the government is legally obligated to investigate and prosecute allegations of corruption within the NNPCL and ensure justice for victims of corruption.
The Role of Transparency and Accountability
Transparency and accountability are crucial in addressing the issues within the NNPCL. SERAP has highlighted the lack of transparency in the use of public funds to support NNPCL operations as a significant factor contributing to the repeated and unlawful increases in petrol prices. By holding the NNPCL accountable, the government can ensure that public funds are used effectively and that citizens are not unfairly burdened by corruption and mismanagement.
Reverse Petrol Price Hike, Probe NNPC, SERAP Tells Tinubu
To address the economic challenges faced by Nigerians, it is essential for the government to implement public policies that tackle people with low income and inequality. SERAP has urged the government to focus on these issues rather than penalizing the poor through fuel price hikes. By addressing the root causes of corruption and mismanagement in the oil sector, the government can create a more equitable and sustainable economic environment for all Nigerians.
Conclusion
The call by SERAP for President Tinubu to reverse the petrol price hike and investigate the NNPCL highlights the urgent need for transparency and accountability in Nigeria’s oil sector. The economic hardships faced by citizens due to rising fuel prices underscore the importance of addressing corruption and mismanagement within the NNPCL. By taking decisive action, the government can alleviate the economic burden on Nigerians and ensure a more just and equitable society.
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