The Socio-Economic Rights and Accountability Project (SERAP) has dragged the Nigerian National Petroleum Company Limited (NNPCL) to the Federal High Court in Lagos over its alleged failure to provide an account for an estimated N825 billion naira and $2.5 billion in public funds. These funds were reportedly allocated for refinery rehabilitation and other oil-related revenues.

According to a statement issued by SERAP’s Deputy Director, Kolawole Oluwadare, on Sunday, the lawsuit (FHC/L/MISC/722/25), filed last Friday, is predicated on findings detailed in the 2021 audited report by the Auditor-General of the Federation, Adolphus Aghughu, which was made public on November 27, 2024.

The legal action also comes amidst renewed public skepticism regarding the state of Nigeria’s refineries. Just last week, Aliko Dangote, President of Dangote Group, openly expressed doubts that the NNPCL’s refineries would ever operate effectively again, despite an estimated $18 billion having already been spent on them over the years. This sentiment echoes previous concerns raised by former President Olusegun Obasanjo regarding the NNPC’s capacity to manage the refineries.

SERAP is seeking several court orders: Mandamus to compel the NNPCL to account for and explain the whereabouts of the missing N825 billion naira and $2.5 billion of public funds designated for refinery rehabilitation and repairs.

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Mandamus to compel the NNPCL to recover and return these missing funds to the federation account.

Mandamus to compel the NNPCL to identify those responsible for the missing oil money, surcharge them for the full amount involved, and hand them over to appropriate anti-corruption agencies for investigation and prosecution.

In its suit, SERAP argued that the “grim allegations by the Auditor-General (and Mr Aliko Dangote) suggest a grave violation of the public trust and the provisions of the Nigerian Constitution, national anticorruption laws, and the country’s international human rights and anticorruption obligations.”

The organization contended that “granting the reliefs sought would strike a blow against the impunity of those responsible for the missing oil money meant to repair the country’s refineries and ensure that the money is returned for the sake of NNPCL’s victims—Nigerians.”

SERAP emphasised that these alleged financial irregularities have “undermined the economic development of the country, trapped the majority of Nigerians in poverty, and contributed to high levels of deficit spending by the government.”

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The lawsuit, filed by SERAP’s lawyers, Kolawole Oluwadare, Ms. Oluwakemi Oni, and Ms. Valentina Adegoke, further detailed the Auditor-General’s findings. These include — Over N82.95 billion ($82,951,595,510.47) “deducted from the sale of Crude Oil and Gas between 2020 and 2021” for “refinery rehabilitation and repairs” without proper authorization. The AGF “fears that the money may be missing” and recommends its recovery.

Over N343.64 billion ($343,642,598,726.51) “being proceeds from domestic crude sales,” unilaterally deducted for “pipelines maintenance and management costs.” The AGF “fears the money may have been diverted” and calls for its recovery and the prosecution of those involved.

Over N83.65 billion ($83,659,813,739.99) “being miscellaneous income from the NNPC joint venture operations from 2016 to 2020,” withdrawn from a “CBN/NNPC sinking fund account.” This practice, the AGF noted, “has led the Federation to resort to borrowings.”

Over N204.85 billion ($204,853,744,047.39) “being unjustified deductions from the oil royalties for 2021,” originally due to the Department of Petroleum Resources (now NUPRC). The AGF “fears the money may have been diverted.”

Over N3.74 billion ($3,748,581,281.27) “purportedly paid to a Company as a shortfall on sales of MT cargo of PMS,” which the AGF “fears the money may be missing.”

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Over N28.65 billion ($28,654,179,867.00) “being outstanding bridging allowance from NNPC retail for 2021,” and over N13.55 billion ($13,555,965,814.91) “being outstanding bridging allowance claims from three major oil marketers in 2021.” The AGF is concerned this “may have resulted in difficulty in funding the 2021 budget.”

Over N15 billion ($14,134,947,949.80 and $1,087,533,332.62) “being outstanding revenues from debts owed by twenty-six marketers for 2021.”

Over $29.64 million ($29,648,970.36) “being outstanding royalties payable to the Department of Petroleum Resources CBN account.”

Uncollected outstanding oil royalties of over $2.26 billion ($2,260,448,992.45) and N48.21 billion ($48,218,163,192.67) from oil companies for 2021. The AGF “fears that the money may be missing” and notes this “may have resulted in difficulty in funding the 2021 budget.”

No date has been fixed yet for the hearing of the suit as of the time of this report.
(TRIBUNE)

President of the Senate, Godswill Akpabio, has said the south south region was determined to resist those who removed former President, Dr Goodluck Jonathan to achieve their aim of ousting President Bola Ahmed Tinubu from office in 2007 general elections.

The Senator representing Akwa- Ibom North West in the Tenth Senate made the declaration at the weekend at the grand finale of the 25th anniversary of the Niger Delta Development Commission (NDDC) in Port Harcourt, Rivers State as part of the activities to round off the week-long celebration.

Checks revealed that Akpabio was chairman of the People’s Democratic Party Governors Forum, when its presidential candidate and then incumbent President, Goodluck Jonathan lost his bid for a fresh mandate to the candidate of the erstwhile main opposition party, the All Progressives Congress, Muhammadu Buhari, in the 2015 general elections.

A statement by the Special Assistant to the President of the Senate on Media/Communication, Anietie Ekong quoted Senator Akpabio as saying the entire South south religion would rally around Tinubu and would not allow him to be disgraced out of office by the same forces that orchestrated the plot that removed Jonathan from office.

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The Senate President told the gathering that included former President Goodluck Jonathan, the Secretary to the Government of the Federation, Senator George Akume who represented President Bola Ahmed Tinubu, Administrator of Rivers State, Admiral Ibokette Ibas, lawmakers, traditional rulers, ministers, and key figures from across the Niger Delta, that the region that produces the mainstay of the economy would determine who emerges as President to manage the crude oil revenue.

“In the past the Niger Delta was used as the goose that produced the golden egg with nothing to show for it. Today, President Tinubu has set up an Environmental Sciences University in Ogoni land to take care of the environment which had been degraded as a result of oil polution.

“He has also set up a Maritime University, signed it into an Act of Parliament in Okerenkoko in Delta State. He has given us several tertiary institutions in Agriculture, Technology and lots of others. So it is not only in terms of appointments but various projects.

“This is the region that produces the wealth of the nation. We have the right to chose who manages our resources. So people should not think that anybody can just come and become the President without consultation with the people of the Niger Delta.

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“We the people of the Niger Delta have assessed President Tinubu and have found him fit to continue in office beyond 2027. So let the people who are conspiring against President Tinubu hear this. They did it before and conspired to remove our son, President Goodluck Jonathan.

“This time around the entire Niger Delta region has decided to speak with one voice. And we are telling the President ‘on your mandate we stand.’ No conspiracy formed against this Government that has recognized the Niger Delta shall prosper.”

The former Akwa Ibom state governor decried the high turnover of management team of the NDDC which he said had slowed the pace of development of the oil-rich region.

He however commended the present team led by the Managing Director, Dr Samuel Ogbuku for adhering to the vision of the founding fathers of the interventionist agency by embarking on projects that have impacted positively on the lives of the people of the region.

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According to Senator Akpabio the frequent management change, created endless cycles where new leaders were removed before finishing projects, leaving thousands of initiatives abandoned and wasting billions meant for development.

“There were many reasons we have had so much problems in NDDC. Part of it was leadership tussle. In the Niger Delta region, we have what we call ‘periwinkle politics.’ This is politics where everybody bears the same head. Nobody wants to wait for his turn. Everybody feels that he should be there and not the other person.

“So there was always this conspiratorial situation. Each management in the NDDC would conspire against themselves and ofcourse the staff will assist them to quarrel and shortly after they will sack the management. And one of them would become the acting Managing Director.”

He commended the stability under the current leadership of Dr Ogbuku, urging that the commission must break away from endless cycles of sabotage and focus on continuity so that development projects can be completed.

Speaking in the same vein, former President Jonathan commended President Tinubu for continuing with the present board of the Commission and noted that this will engender sustainable development of the region.

An Air Peace flight P47190 veered off the runway on Sunday morning while landing at the Obafemi Jeremiah Awolowo International Airport in Port Harcourt.

Though no clue has yet been disclosed as to the cause of the incident, available information claimed there were no casualties.

The flight which originated at the domestic wing of the Murtala Mohammed Airport in Lagos ran into the incident on touchdown at the destination.

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Air Peace management has confirmed in a release signed by its spokesman, Osifo-whiskey Efe, that its “Flight P47190, operating from Lagos to Port Harcourt this morning, (Sunday), had a runway excursion after landing safely at the Port Harcourt International Airport.

“The aircraft veered slightly off the runway without any damage. All passengers disembarked safely and calmly, and no injuries were reported,” it says.

The airline assured the flying public of its commitment to maintaining the highest standards of safety in all operations.