SERAP Sues NNPCL Over Alleged ₦5.9bn Rebranding Expenditure

SERAP has sued NNPCL, demanding accountability for an alleged ₦5.9 billion spent on the company’s transition and rebranding, and seeking disclosure of officials and contractors involved.

The Socio-Economic Rights and Accountability Project has filed a lawsuit against Nigerian National Petroleum Company Limited over an alleged ₦5.9 billion expenditure incurred during the transition and rebranding of the former Nigerian National Petroleum Corporation into NNPCL.

According to SERAP, about ₦2.9 billion was reportedly spent on incorporation expenses from petroleum product proceeds, while another ₦2.9 billion was allegedly charged by the National Petroleum Investment Management Services to crude oil revenue for the same purpose, bringing the total expenditure to approximately ₦5.9 billion.

In the suit filed before the Federal High Court in Abuja, the organisation is seeking an order compelling NNPCL to account for the funds and provide a detailed reconciliation of the expenditure.

The case, marked FHC/ABJ/CS/1248/2026, was disclosed in a statement issued by SERAP’s Deputy Director, Kolawole Oluwadare.

The organisation is also asking the court to compel NNPCL to disclose the identities of contractors involved in the rebranding project and explain how the funds were utilised.

Additionally, SERAP wants the company to reveal the names and official positions of government officials who authorised and approved the expenditure, as well as clarify whether due process and procurement regulations were followed.

The lawsuit was filed on behalf of SERAP by its legal team comprising Oluwakemi Agunbiade, Kehinde Oyewumi and Andrew Nwankwo.

SERAP noted that the Senate Committee on Public Accounts had reportedly raised concerns about the expenditure, describing it as excessive, unjustifiable and deserving of further scrutiny.

According to the organisation, Nigerians have a right to know whether the expenditure represented value for money and complied with procurement laws and due-process requirements.

SERAP argued that transparency and accountability in the management of public resources remain essential, especially in the implementation of reforms under the Petroleum Industry Act 2021, which transformed NNPC into a commercially oriented limited liability company.