SERAP Sues NNPCL Over ₦5.9 Billion Rebranding Costs

The Socio-Economic Rights and Accountability Project (SERAP) has initiated legal action against the Nigerian National Petroleum Company Limited (NNPCL) regarding an alleged ₦5.9 billion spent on rebranding. The lawsuit, filed at the Federal High Court in Abuja, seeks to compel NNPCL to provide a comprehensive reconciliation statement detailing the financial transactions related to this expenditure.

SERAP claims that NNPCL has already paid ₦2.9 billion for incorporation expenses and that the total expenditure raises concerns about accountability and transparency. The organization is requesting the court to disclose the names of government officials who approved the spending and to clarify whether the expenditure complied with applicable procurement laws.

SERAP argues that the failure to account for the ₦5.9 billion reflects a broader issue of transparency within NNPCL, which is mandated to operate as a commercially oriented limited liability company under the Petroleum Industry Act of 2021. No hearing date has been set for the lawsuit.