SERAP Sues NNPCL Over ₦5.9bn Rebranding

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the NNPC Limited (NNPCL) at the Federal High Court in Abuja, seeking to compel the company to account for approximately ₦5.9 billion allegedly spent on its incorporation, transition, and rebranding. The expenditure reportedly includes ₦2.9 billion from petroleum product proceeds and another ₦2.9 billion charged to crude oil revenue by the Nigeria — National Petroleum Investment Management Services (NAPIMS). Socio-Economic Rights and Accountability Project (SERAP) is demanding a comprehensive reconciliation statement, details of contractors, and the identities of government officials who approved the spending, along with clarification on compliance with procurement laws. The lawsuit follows concerns raised by the Nigeria — Senate of Nigeria's Committee on Public Accounts, which deemed the spending excessive. This legal action underscores a broader push for transparency and accountability in the management of public resources within Nigeria's petroleum sector, particularly after the transformation of Nigerian National Petroleum Corporation (NNPC) into NNPC Limited (NNPCL) under the Petroleum Industry Act (PIA) 2021.