Socio-Economic Rights and Accountability Project (SERAP) has called on the Group Chief Executive Officer, Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, to promptly publish details of barrels of oil Nigeria produces and exports every day.
In the letter dated December 9, 2023 and signed by SERAP Deputy Director, Kolawole Oluwadare, the organisation urged him to disclose how much of the revenues generated from oil have been remitted to the public treasury since the removal of subsidy on petrol.
The group also called on him to disclose the total amounts of revenues generated from oil since the removal of subsidy on petrol in May 2023.
SERAP also urged him to disclose details of payment of N11 trillion as subsidy, and to clarify allegations that the NNPCL has failed to remit revenues generated from oil to the public treasury since the removal of subsidy on petrol.
Recall that former governor of the Central Bank of Nigeria (CBN), Sanusi Lamido Sanusi, had last week alleged that the NNPCL is failing to remit enough foreign exchange into the Treasury despite the removal of fuel subsidy, asking: Where is the money?.
SERAP said: The NNPCL has also reportedly failed to publish details of revenues generated from the production and exportation of oil and the amounts of revenues remitted to the public treasury as required by Nigerian laws.
The NNPCL has a legal responsibility to promote transparency and accountability in barrels of oil the country produces and exports every day, and to ensure that the revenues generated from such production and exportation are dully remitted to the public treasury.
The NNPLC also has a legal responsibility to disclose details of payment of N11 trillion subsidy, it insisted.
The organisation further said, There is a legitimate public interest in disclosing the information sought.
Opacity in the amounts of barrels of oil the country produces and exports daily, the revenues generated and remitted to the public treasury would have negative impacts on the fundamental interests of the citizens and the public interest.
Transparency would ensure that the revenues are not diverted into private pockets, and increase public trust that the money would be used to benefit Nigerians.
