Reverse fuel price hike pending court case decision, SERAP tells Tinubu

Oct. 13, 2024 - Guardian Nigeria

Last month, SERAP filed a lawsuit against President Tinubu and the NNPCL, challenging the legality of the NNPCL’s authority to increase petrol prices. The price increased from N897 to N1,030 per litre, marking the second increase in one month.

This followed an earlier increase in September from N600 to N855 per litre, with some prices exceeding N900 per litre. The two price hikes were attributed to a reported scarcity caused by suppliers refusing to import petroleum products for the NNPCL over a $6 billion debt.

The Auditor General expressed concerns that the funds may have been misappropriated and has called for their recovery and remittance into the Federation Account...