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Reverse petrol price hike, probe NNPC, SERAP tells Tinubu

Published

2 years ago

September 8, 2024

Reverse petrol price hike, probe NNPC, SERAP tells Tinubu

Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to use his “leadership position and good offices to direct the Nigerian National Petroleum Company Limited (NNPCL) to immediately reverse the apparently illegal and unconstitutional increase in the pump price of premium motor spirit (PMS), also known as petrol, across its retail outlets.”

SERAP urged him to “direct the Attorney General of the Federation and Minister of Justice Mr Lateef Fagbemi, SAN, and appropriate anti-corruption agencies “to probe the allegations of corruption and mismanagement in the NNPC, including the spending of the reported $300 million ‘bailout funds’ collected from the Federal Government in August 2024, and the $6 billion debt it owes suppliers, despite allegedly failing to remit oil revenues to the treasury.”

SERAP said, “Suspected perpetrators of alleged corruption and mismanagement in the NNPC should face prosecution as appropriate, if there is sufficient admissible evidence, and any proceeds of corruption should be fully recovered.”

In the open letter dated 7 September 2024 and signed by SERAP deputy director Kolawole Oluwadare, the organisation said: “The increase in petrol price constitutes a fundamental breach of constitutional guarantees and the country’s international human rights obligations.”

SERAP said, “Nigerians have for far too long been denied justice and the opportunity to get to the bottom of why they continue to pay the price for corruption in the oil sector.”

The letter, read in part: “Rather than pursuing public policies to address the growing poverty and inequality in the country, and holding the NNPC to account for the alleged corruption and mismanagement in the oil sector, your government seems to be punishing the poor.

“The increase in petrol price has rendered already impoverished citizens incapable of satisfying their minimum needs for survival.”

“The increase is not inevitable, as it stems from the persistent failure of successive governments to address allegations of corruption and mismanagement in the oil sector and the impunity of suspected perpetrators.”

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“Corruption in the oil sector and the lack of transparency and accountability in the use of public funds to support the operations of the NNPC have resulted in persistent and unlawful hike in petrol prices.”

“Holding the NNPC to account for alleged corruption and mismanagement in the oil sector would serve legitimate public interests.”

“The increase is causing immense hardship to those less well-off. We are concerned that as the economic situation in Nigeria deteriorates, the increase in petrol price is pushing people further into poverty.”

“We would be grateful if the recommended measures are taken within 48 days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal actions to compel your government to comply with our request in the public interest.”

“Increasing petrol prices at a time when millions of Nigerians continue to face worsening economic conditions is entirely inconsistent with your government constitutional and international obligations to ensure the minimum living conditions compatible with human dignity.”

“The arbitrary increase has placed a disproportionate burden on the marginalized and most vulnerable sectors of society, particularly those disadvantaged by poverty.”

“The increase is seriously jeopardizing their living conditions, well as individuals’ physical, emotional, and individual development, and intensifying and worsening socioeconomic conditions in the country.”

“The increase constitutes a serious human rights problem because of the intensity with which it undermines the enjoyment and exercise by Nigerians of their human rights and renders their civic participation illusory.”

“The fundamental right to life includes not only the right of every Nigerian not to be deprived of his/her life arbitrarily, but also the right that he/she will not be prevented from having access to the conditions that guarantee a dignified existence.”

“The growing poverty and inequality in the country has continued to adversely affect the right of Nigerians to participatory democracy, and impede their ability to participate in their own government.”

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“Persistent increase in petrol prices keep people in poverty which in turn perpetuates discriminatory attitudes and practices against them.”

“Your government has a legal obligation to mobilize the maximum of the country’s available resources to ensure people’s socio-economic rights and to protect the most vulnerable and disadvantaged Nigerians.”

“Your government also has the legal obligations to probe and prosecute allegations of corruption and mismanagement in the NNPC, and to ensure access to justice and effective remedies for victims of corruption.”

“Investigating and prosecuting allegations of corruption and mismanagement in the oil sector would be entirely consistent with the Nigerian Constitution, and the country’s international anti-corruption obligations.”

“Section 13 of the Nigerian Constitution 1999 [as amended] imposes clear responsibility on your government to conform to, observe and apply the provisions of Chapter 2 of the constitution. Section 15(5) imposes the responsibility on your government to ‘abolish all corrupt practices’ including in the NNPC.”

“Under Section 16(1) of the Constitution, your government has a responsibility to ‘secure the maximum welfare, freedom and happiness of every citizen on the basis of social justice and equality of status and opportunity.’”

“Section 16(2) further provides that, ‘the material resources of the nation are harnessed and distributed as best as possible to serve the common good.’”

“According to our information, the Nigerian National Petroleum Company (NNPC) Limited recently increased the price of premium motor spirit (PMS), also known as petrol, across its retail outlets.”

“The price of the product increased to N855 per litre, from about N600, and in some instances above N900 per litre. The apparently unlawful increase in petrol price followed a scarcity caused by the reported refusal by suppliers to import petroleum products for the NNPCL over a $6 billion debt.”

“The NNPC reportedly failed to remit USD$2.04 billion and N164 billion of oil revenues into the public treasury, as documented in the recently published 2020 annual report by the Auditor-General of the Federation.”

Reverse petrol price hike, probe NNPC, SERAP tells Tinubu

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BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa

Published

10 hours ago

April 21, 2026

Trends Admin

Wale Edun

BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa

President Bola Ahmed Tinubu has reportedly approved a minor cabinet reshuffle involving key changes in the Federal Executive Council (FEC), including the removal of the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, alongside the Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa.

The development was said to have been contained in a memo signed by the Secretary to the Government of the Federation (SGF), Senator George Akume, directing immediate transition processes across the affected ministries.

Wale Edun, Dangiwa Relieved of Ministerial Duties

According to the reported directive, Wale Edun has been asked to hand over duties at the Ministry of Finance and Coordinating Minister of the Economy. Similarly, Arc. Ahmed Musa Dangiwa is to vacate his position as Minister of Housing and Urban Development.

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The memo reportedly instructed that all handover processes be concluded on or before close of business on Thursday, April 23, 2026, ensuring a smooth administrative transition within the affected ministries.

Succession Arrangements and Ministerial Changes

The document further stated that Mr. Taiwo Oyedele has been named as the incoming Minister of Finance and Coordinating Minister of the Economy, following Edun’s exit.

In the housing ministry, Dr. Muttaqha Rabe Darma has reportedly been nominated as Minister-designate for the Ministry of Housing and Urban Development, pending formal confirmation procedures. Until then, Dangiwa has been directed to hand over to the Minister of State within the ministry.

Presidency Explains Reason for Reshuffle

Explaining the development, SGF George Akume was quoted as saying the changes are aimed at improving cohesion, synergy in governance, and economic delivery under the administration’s Renewed Hope Agenda.

He added that President Tinubu acted within his constitutional powers under Sections 147 and 148 of the 1999 Constitution (as amended), emphasizing that cabinet adjustments remain part of ongoing efforts to improve governance efficiency.

Presidential Appreciation and Next Steps

The memo also reportedly conveyed President Tinubu’s appreciation to outgoing ministers for their service to the nation, while wishing them success in their future engagements. It further indicated that the President assured Nigerians and cabinet members that government reinvigoration efforts will continue periodically.

BREAKING: Tinubu Allegedly Shakes Up Cabinet, Removes Wale Edun, Ahmed Dangiwa

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Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety

Published

12 hours ago

April 21, 2026

Trends Admin

Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety

A power distribution company has announced plans to hold its April Virtual Stakeholder Engagement aimed at educating customers on safety measures during the rainy season.

In a notice issued to customers, the company said the virtual session would focus on the dangers associated with exposed electrical wires, flooded installations, and the increased risk of electric shock that often accompanies heavy rainfall.

The engagement, scheduled for Thursday, April 23, 2026, from 11:00 a.m. to 1:00 p.m., will be held via Microsoft Teams, allowing participants to join remotely.

According to the company, the initiative is part of efforts to promote public safety and reduce electricity-related accidents during the rainy season, when infrastructure is more vulnerable and risks are heightened.

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Beyond safety concerns, the session will also provide practical tips to help customers navigate the season safely, including guidance on energy efficiency to reduce consumption and costs.

The company further disclosed that it would share updates on its waste-management support initiatives targeted at public schools, as part of its broader corporate social responsibility programmes.

Customers and other stakeholders are encouraged to participate in the session to gain valuable insights and contribute to discussions aimed at improving safety and sustainability in communities.

The company reiterated its commitment to customer welfare, urging the public to remain vigilant and adhere to recommended safety practices during the rainy season.

Power Firm to Hold Virtual Stakeholder Meeting on Rainy Season Electrical Safety

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NERC: Only 15 States Fully Regulating Electricity Markets Under New Law

Published

18 hours ago

April 21, 2026

Trends Admin

Nigerian Electricity Regulatory Commission (NERC)

NERC: Only 15 States Fully Regulating Electricity Markets Under New Law

Twenty-one states, including Rivers State and Kano State, have yet to assume full regulatory control of their electricity markets nearly three years after the enactment of the Electricity Act 2023, even as 15 states have successfully transitioned to independent electricity regulation under Nigeria’s decentralised power framework.

The Nigerian Electricity Regulatory Commission (NERC) confirmed that the 15 states that have completed the transition now operate their own electricity markets, handling tariff regulation, licensing, investment promotion, and consumer protection within their jurisdictions.

The reform is part of the broader implementation of the Electricity Act 2023, which decentralises Nigeria’s power sector by empowering states to regulate generation, transmission, and distribution within their territories after meeting legal and institutional requirements.

15 states now operating independent electricity markets

According to NERC, 15 states have fully completed the transition process and are now independently regulating their electricity sectors. These states include Enugu, Ekiti, Ondo, Imo, Oyo, Edo, Kogi, Lagos, Ogun, Niger, Plateau, Abia, Nasarawa, Anambra, and Bayelsa.

The commission explained that the transition began in October 2024 with Enugu and Ekiti, followed shortly by Ondo. The process gained momentum in 2025, with states such as Lagos, Oyo, Ogun, and Edo completing their transitions. More recent entries include Nasarawa, Anambra, and Bayelsa in early 2026.

Under the new structure, these states now oversee intrastate electricity regulation, including issuing licenses, enforcing technical standards, setting local tariffs, and protecting electricity consumers.

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21 states yet to complete transition

However, 21 states are yet to complete the process of taking over regulatory control of their electricity markets. These include Adamawa, Akwa Ibom, Bauchi, Benue, Borno, Cross River, Delta, Ebonyi, Gombe, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kwara, Osun, Rivers, Sokoto, Taraba, Yobe, and Zamfara.

Energy experts say the delay could slow down the expected benefits of the Nigeria electricity sector reform, including improved power supply, localised tariff structures, and increased investment in mini-grids and embedded generation projects.

They also warn that uneven implementation could widen disparities in electricity access and investment across states.

What the Electricity Act 2023 provides

Under the Electricity Act 2023, once a state completes its transition, it establishes its own electricity regulatory commission responsible for overseeing all intra-state electricity operations.

The national regulator, NERC, retains oversight of interstate electricity trade and the national grid system.

State regulators are expected to drive local electricity market development by encouraging private investment, supporting renewable energy projects, and ensuring service quality standards across distribution networks.

However, NERC noted that some states that have declared transition still need to fully operationalise their regulatory institutions.

Federal government push for decentralisation

The Federal Government has repeatedly encouraged states to accelerate adoption of the reform, describing decentralisation as essential to solving Nigeria’s long-standing electricity challenges.

Minister of Power, Adebayo Adelabu, said Nigeria’s size and population make centralised electricity management ineffective.

He explained that the Electricity Act allows states to participate in all segments of the power sector value chain, including generation, transmission, distribution, and supporting services.

Adelabu also stressed the importance of collaboration between federal and state regulators to ensure alignment between wholesale and retail electricity markets.

He added that state participation is especially critical in off-grid electrification and rural power projects, where flexible local regulation can improve access and attract investment.

Outlook for Nigeria’s power reform

Stakeholders say the success of Nigeria’s electricity decentralisation reform will depend on how quickly the remaining 21 states establish functional regulatory frameworks and fully activate their electricity markets.

They warn that delays may limit investment inflows and slow down efforts to improve electricity supply reliability across the country.

Despite the uneven progress, the Electricity Act 2023 remains one of the most significant structural reforms in Nigeria’s power sector, aimed at creating a more competitive and efficient electricity market.

NERC: Only 15 States Fully Regulating Electricity Markets Under New Law