Direct, obliged nnpc to take into account the lack of N825 billion, $ 2.5 billion intended for refinery repairs, Serap says to Court – Thage

The project of socio-economic rights and responsibilities (Serap) has filed a cause against the Nigerian National Petroleum Company (NNPC) limited for “non-explanation and explanation of the alleged N825 billion and $ 2.5 billion intended for” rehabilitation of refinery “and other oil preventions”.

The cause followed the accusations documented in the 2021 verification report by the Federation General, which was published on November 27, 2024.

Previously he had reported that the CEO of the NNPC group, Bayo Ojulari, had said that the company is reviewing the possibility of selling its three state refineries to Port Harcourt, Warri and Kaduna, despite the enormous investments that take place at about 18 billion dollars for their rehabilitation. He admitted that the enormous technological investments and inputs distributed over the years have not produced the expected results, describing the rehabilitation process as more complex than initially expected.

In addition, Aliko Dangote, president of the Dangote group, said that the refineries NNPC may never work again, despite the 18 billion dollars spent on the refineries.

In the number of Cause FHC/L/M: 722/25 filed last Friday at the High Federal Court of Lagos, Serap prayed to the Court for “an order of mandamus to direct and force the NNPCL to account and explain the position of the alleged N825 billion dollars and $ 2.5 billion USD dollars understood for” refinery repair “.

“To direct and force the NNPCL to recover and put the alleged N825 billion dollars and $ 2.5 billion dollars of public funds intended for rehabilitation and repair of the refinery to the Federation account.

“Directly and force the NNPCL to identify the managers of missing oil money, application for the entire amount involved and deliver them to appropriate anti -corruption agencies for investigations and criminal actions.

In the cause, Serap claimed that “the dark accusations from the general auditor [and Mr Aliko Dangote] Suggest a serious violation of the trust of the public and the provisions of the Nigerian Constitution, the national laws on the anti -corruption and international obligations of human rights and anti -corruption of the country.

“Giving the requested relief would have affected a serious blow against the impunity of the missing oil money managers intended to repair the refineries of the country and ensure that the money is returned for the good of the victims of NNPCL: the Nigerians.

“These gloomy accusations have also undermined the economic development of the country, trapped the majority of the Nigerians in poverty and have contributed to high levels of expenditure from the government.

“The vast majority of the Nigerians saw few benefits from the oil wealth of their country, even if the NNPCL continues to not be able to account for the missing billions of dollars who are desperately necessary to repair or replace the disfunctional refineries of the country”.

According to Serap, “the general auditor has documented for many years reports of disappearance of public funds from the NNPCL. The Nigerians continue to bear the weight of these missing public funds intended for rehabilitation of refineries”.

The cause presented on behalf of Serap by his lawyers, Kolawole Oluwadare, Oluwakemi Oni and Valentina Adegoke, partially reads: “The missing oil revenues reflect a failure of the responsibility of NNPCL more generally and is directly connected to the continuous failure to maintain the institution.

“According to the recently reviewed report of 2021 recently published by the General Auditor of the Federation (AGF), the Nigerian National Petroleum Corporation Limited (NNPCL) has not taken into account more than N825 billion and 2.5 billion dollars of public funds intended for” rehabilitation of refineries “and other repairs of oil

“The general auditor fears that money may be missing.

“According to reports, the NNPCL has not been able to take into account more than N82 billion [N82,951,595,510.47] Put for “Rehabilitation and repairs of the refinery”. The “money was deducted from the sale of crude oil and gas between 2020 and 2021”.

“The general auditor fears that the money may be missing. He wants the money recovered and put back on the account of the Federation. He also wants that the NNPCL ‘guarantees that the amounts due for the account of the Federation are not subject to any deductions before the remittance of the net.”

“According to reports, the NNPCL has not been able to take into account more than N343 billion [N343,642,598,726.51] “Being income from the sales of domestic crude oil.” The money, designed for the maintenance and management costs of the pipeline, has been unilaterally deducted by gross internal cruster sales.

“The general fears of the auditor” that the money may have been diverted “. He wants the money to be recovered and put back the treasure.

“According to reports, the NNPCL has not been able to take into account more than N83 billion [N83,659,813,739.99] “Being a varied income from the Joint Venture NNPC operations from 2016 to 2020.” The money was withdrawn from the CBN/NNPC sinking fund account [a suspense account].

“The general auditor is concerned that this practice led the Federation to resort to loans. He wants to recover the money and put back the treasure.

“According to reports, even the NNPCL has not been able to take into account more than n204 billion [N204,853,744,047.39] “Being unjustified deductions by oil royalties for 2021.” The money was due to the Department of Petroleum Resources (DPR), now Nigerian Upstream Petroleum Regulatory Commission (NUPRC). “The fears of the general auditor” the money may have been diverted. “It wants the money to be recovered and put back the treasure.

“According to reports, the NNPCL has not been able to take into account more than N3.7 billion [N3,748,581,281.27] “Being money presumably paid to a company as a deficit on the sales of MT Cargo of PMS.” The general auditor fears that money may be missing. He wants the money to be recovered and put back to the treasure.

“According to reports, the NNPCL has not been able to take into account over n28 billion [N28,654,179,867.00] Exceptional bridge allowance from retail NNPC for 2021.

“The nnpcl was unable to take into account more than n13.5 billion [N13,5559,658,148.91] The complaints of indemnity of the pendant bridge by three important oil marketers in 2021.

“The general auditor fears that this” may have caused difficulty to finance the 2021 budget “. He wants the money to be recovered both from the NNPC detail sale and by the main oil marketing experts and put back the Federation account.

“According to reports, even the NNPCL has not been able to take into account more than n15 billion [N14,134,947,949.80 and N1,087,533,332.62] Entering angry from the debts due by twenty -six marketers for 2021. “The general auditor has it that the money recovered by oil marketing experts and put back the federation account.

“According to reports, the NNPCL was unable to represent more than $ 29.6 million [$29,648,970.36] Exceptional royalties payable to the account of the Department of Petrolled Resources. “The general auditor fears that this” may have caused difficulty to finance the 2021 budget “. He wants the money to be recovered.

“The nnpcl was unable to collect over $ 2 billion [$2,260,448,992.45] Be oil royalties from oil companies for 2021 and has not been able to collect over n48 billion [N48,218,163,192.67] Even being exceptional oil royalties from oil companies.

“The general auditor fears that” the money could be missing “. It is worried that this” could have caused difficulty to finance the 2021 budget “. He wants” the money recovered by the oil companies and put back the account of the Federation “.

No date has been set for the hearing of the cause.