The Socio-Economic Rights and Accountability Project (SERAP) has instituted legal action against the Nigerian National Petroleum Company Limited (NNPCL), seeking judicial intervention to compel the company to provide a detailed account of approximately ₦5.9 billion reportedly spent on the incorporation, transition, and rebranding of the former Nigerian National Petroleum Corporation (NNPC) into NNPCL.
According to reports referenced in the suit, about ₦2.9 billion was allegedly paid by the NNPC from proceeds generated through petroleum product sales to cover incorporation-related expenses. In addition, the National Petroleum Investment Management Services (NAPIMS) reportedly charged another ₦2.9 billion to crude oil revenues for similar transition activities, bringing the total expenditure associated with the rebranding exercise to roughly ₦5.9 billion.
In the suit marked FHC/ABJ/CS/1248/2026 and filed at the Federal High Court in Abuja, SERAP is requesting an order of mandamus directing NNPCL to disclose comprehensive information regarding the expenditure and provide detailed records of how the funds were utilized.
The organisation is specifically asking the court to compel NNPCL to present a reconciliation statement outlining all transactions connected to the reported spending, including details of contracts awarded, identities of contractors engaged, and the exact services rendered during the rebranding process.
SERAP is also seeking an order requiring the company to reveal the names and official designations of government officials who authorized and approved the release of the funds. Additionally, the group wants clarification on whether the expenditure complied with procurement regulations, due process requirements, and other applicable legal standards governing public spending.
In its court filings, SERAP argued that there is significant public interest in understanding how the funds were spent, particularly given the strategic importance of the petroleum sector and the scale of the expenditure involved.
According to the organisation, Nigerians have a right to know whether the reported ₦5.9 billion expenditure represented value for money, complied with legal procedures, and was carried out in a transparent and accountable manner.
SERAP maintained that full disclosure would enable citizens to evaluate whether the funds were properly utilized and whether the approval process met constitutional and statutory requirements.
The group further argued that transparency regarding the expenditure would allow the public to assess the conduct of officials involved in the approval and implementation of the rebranding exercise.
Given the amount involved and the significance of NNPCL as a publicly owned entity operating within the nation’s oil and gas industry, SERAP stated that there is an urgent need for openness and accountability regarding the spending.
The suit, filed on behalf of the organisation by its legal team comprising Oluwakemi Agunbiade, Kehinde Oyewumi, and Andrew Nwankwo, contends that the alleged expenditure raises concerns about public trust and compliance with anti-corruption principles.
According to the legal filing, the failure to provide a satisfactory account of the spending reflects broader concerns about transparency and accountability within the company.
SERAP argued that withholding information about the expenditure undermines citizens’ right to access information relating to the management of public resources and public institutions.
The organisation also referenced concerns reportedly raised by the Senate Committee on Public Accounts, which questioned the justification for the ₦5.9 billion expenditure and reportedly called for further explanations and scrutiny in the public interest.
The committee was said to have described the expenditure as excessive and deserving of additional investigation to determine whether the spending was necessary and properly executed.
The transformation of the NNPC into NNPCL followed the enactment of the Petroleum Industry Act (PIA) 2021, which mandated the conversion of the state-owned corporation into a commercially oriented limited liability company wholly owned by the Federal Government.
SERAP also cited several constitutional provisions to support its position, including Section 13 of the 1999 Constitution, which requires public institutions to uphold constitutional objectives, and Section 15(5), which mandates efforts to eliminate corruption and abuse of power.
The organisation further referenced Section 16 of the Constitution, which calls for the management of the nation’s resources in a manner that serves the common good of citizens.
In addition, SERAP relied on international legal instruments, including Articles 5 and 9 of the United Nations Convention against Corruption, which promote transparency and proper management of public funds.
The group also cited Article 21 of the African Charter on Human and Peoples’ Rights, which recognizes the right of citizens to benefit from and have oversight over the management of their natural resources.
As of the time of filing this report, the Federal High Court had not fixed a date for the hearing of the matter.
