SERAP Calls for Investigation into N94.4 Billion Mismanagement
The Socio-Economic Rights and Accountability Project (SERAP) has requested an investigation into the alleged mismanagement of over N94.4 billion in public funds by the Midstream and Downstream Gas Infrastructure Fund (MDGIF) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). These allegations are based on the 2024 (Volume 2) Annual Report of the Auditor-General of the Federation, published on August 7, 2026, covering periods from January 2023 to December 2024.
In a letter dated October 3, 2026, signed by SERAP deputy director Kolawole Oluwadare, the organization urged anti-corruption agencies to investigate, prosecute individuals found culpable, and recover the mismanaged funds. The report indicates that MDGIF failed to remit N26.549 billion from petroleum-product sales and N12.480 billion in gas-flaring penalties.
Additionally, NUPRC allegedly did not remit ₦38.610 billion in gas-flaring penalties. SERAP has given authorities seven days to act, warning of potential legal measures if their demands are unmet.
Plus234Feed summary based on reporting from Blueprint. Read the original report below.
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