The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), seeking full disclosure and accountability over an alleged ₦5.9 billion spent on the company’s rebranding and transition process.
According to SERAP, the funds were reportedly spent during the transformation of the Nigerian National Petroleum Company (NNPC) into NNPCL, with ₦2.9 billion said to have been used for incorporation expenses from petroleum product proceeds, while another ₦2.9 billion was allegedly charged to crude oil revenue through the National Petroleum Investment Management Services.
In its suit filed at the Federal High Court in Abuja (FHC/ABJ/CS/1248/2026), SERAP is requesting an order of mandamus compelling NNPCL to provide a detailed breakdown of the expenditure, including the identities of contractors involved and how the funds were utilized.
The organisation is also asking the court to compel the company to disclose the names and official positions of government officials who approved the spending, as well as whether due process and procurement laws were followed in the execution of the project.
SERAP, through its legal team led by Oluwakemi Agunbiade, Kehinde Oyewumi, and Andrew Nwankwo, stated that the alleged expenditure had raised serious concerns about transparency and accountability in public financial management.
The group cited reports that the Senate Committee on Public Accounts had previously described the ₦5.9 billion expenditure as excessive, unjustifiable, and in need of further investigation.
According to SERAP, there is a compelling public interest in ensuring full disclosure of how the funds were spent, who approved them, and whether value for money was achieved.
“The NNPCL has a legal responsibility to explain whether the ₦5.9 billion expenditure represents value for money, constitutes lawful spending of public funds, and complies with applicable due process requirements,” the organisation stated.
SERAP further argued that Nigerians have the right to know the details of major public expenditures, especially those linked to national assets and revenue-generating institutions.
The group also warned that failure to provide transparency undermines public trust and weakens accountability structures within key government institutions.
It referenced constitutional provisions, the Petroleum Industry Act (PIA) 2021, and international anti-corruption frameworks, including the UN Convention against Corruption and the African Charter on Human and Peoples’ Rights, in support of its case.
No date has yet been fixed for the hearing of the suit.
