SERAP Sues NNPCL Over ‘Failure to Account for Rebranding Costs of ₦5.9 Billion’

The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL) “for its failure to account for approximately ₦5.9 billion reportedly spent on the merger, transition and rebranding of NNPC to NNPCL.”

NNPC reportedly paid N2.9 billion in establishment fees from petroleum product proceeds, while the National Petroleum Investment Management Services (NAPIMS) also charged N2.9 billion in crude oil revenue for the same purpose, bringing the total amount spent on rebranding NNPC to NNPCL to ₦5.9 billion.

In the suit numbered FHC/ABJ/CS/1248/2026, filed last week at the Federal High Court in Abuja, SERAP seeks “an order of mandamus to direct and compel NNPCL to account for approximately ₦5.9 billion allegedly spent to change the name of NNPC to NNPCL.”

SERAP asked the court to “direct and compel NNPCL to provide a comprehensive reconciliation statement detailing the specific financial transactions relating to the expenditure of ₦5.9 billion, including the identities of the contractors involved, and how the funds were used to change the name of NNPC to NNPCL.”

SERAP also asked the court to “direct and compel NNPCL to disclose the names and official titles of government officials who authorized and approved the disbursement and expenditure of ₦5.9 billion reportedly used to change the name of NNPC to NNPCL, and to clarify whether such expenditure complies with applicable procurement laws and due process requirements.”

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In its lawsuit, SERAP argued that: “There is a legitimate public interest in disclosing the requested details. NNPCL has a legal responsibility to explain whether the expenditure of ₦5.9 billion represents value for money, is a legitimate expenditure of public funds, and complies with the requirements of applicable legal process.”

SERAP also believes that, “There must be full transparency and accountability regarding the reported ₦5.9 billion spent to change the name of NNPC to NNPCL. Nigerians have the right to know who approved the expenditure, who received the funds, the nature of the services provided, and whether the procurement process and requirements were strictly followed.”

According to SERAP, “Given the magnitude of the reported expenditure and the importance of transparency in the management of public resources in the petroleum sector, there is an urgent need for prompt, thorough and transparent disclosure of the details surrounding the expenditure of these funds.”

There is no set date for the hearing of the lawsuit filed on behalf of SERAP by its lawyers, Oluwakemi Agunbiade, Kehinde Oyewumi and Andrew Nwankwo.