ABUJA, Nigeria – Socio-Economic Rights and Accountability Project, SERAP, has urged President Bola Tinubu to promptly probe the alleged disappearance of $2.1 billion and N3.1 trillion of public oil revenues and budgeted fuel subsidy payments between 2016 and 2019, as documented by the Auditor-General of the Federation.
In a letter dated June 3, 2023, signed by SERAP’s deputy director, Kolawole Oluwadare, the organization called for a presidential panel of inquiry to be established.
It also urged the president to “name and shame” anyone suspected to be responsible for the alleged widespread and systemic corruption linked to the oil revenues and fuel subsidy management.
The advocacy group also appealed to the president to probe all fuel subsidy payments made by successive governments since Nigeria’s return to democracy in 1999.
It recommended that any recovered proceeds of crime be used as palliatives to offset the impact of any fuel subsidy removal on impoverished Nigerians.
The letter partly reads, “Your government should urgently act to follow due process of law in any policy to remove fuel subsidy, ensure that suspected perpetrators of these crimes against Nigerians are brought to justice and full recovery of any missing public funds.”
SERAP warned against the arbitrary removal of fuel subsidy without addressing outstanding accountability issues linked to the alleged mismanagement of oil revenues and fuel subsidy payments.
It suggested that this would lead to further impoverishment of the poor, while the corrupt high-profile officials go unpunished.
The organization demanded a response within three days or threatened to take all necessary legal actions to compel the government to comply in the public interest.
It recommended that the proposed panel be led by a retired Supreme Court or Court of Appeal justice, with members of the highest integrity, capable of acting impartially and transparently.
