SERAP Drags NNPCL to Court Over ₦5.9bn Rebranding Spending

SERAP has taken legal action against the Nigerian National Petroleum Company Limited over an alleged ₦5.9 billion spent during the transition of the former Nigerian National Petroleum Corporation into NNPCL.

According to the organisation, about ₦2.9 billion was reportedly paid for incorporation-related expenses from petroleum product proceeds, while another ₦2.9 billion was allegedly charged by the National Petroleum Investment Management Services to crude oil revenue for the same purpose. SERAP said the combined amount has raised questions that require public clarification.

In the suit filed before the Federal High Court in Abuja, SERAP is asking the court to compel NNPCL to account for the expenditure and provide a detailed reconciliation of all transactions linked to the funds.

The group is also seeking information on the contractors involved in the rebranding process, the services they rendered, and how the money was used during the transition from NNPC to NNPCL.

In addition, SERAP wants the court to direct the company to disclose the identities and official positions of government officials who approved and authorised the release of the funds. The organisation is also requesting clarification on whether the spending complied with procurement regulations and other legal requirements.

The suit, marked FHC/ABJ/CS/1248/2026, was filed by SERAP’s legal team. The organisation stated that concerns had previously been raised by the Senate Committee on Public Accounts regarding the expenditure, which lawmakers reportedly considered excessive and deserving of further scrutiny.

SERAP argued that public institutions have a duty to account for how public funds are spent. It maintained that citizens have a right to know whether the money spent on the rebranding exercise represented value for money and whether proper procedures were followed throughout the process.

The organisation further stated that releasing the requested information would allow Nigerians to assess the transparency of the expenditure and determine whether all approvals were lawfully obtained.
SERAP also linked the matter to broader concerns about accountability within NNPCL, arguing that transparency in public spending is necessary for public trust and good governance.

The group noted that the transformation of NNPC into NNPCL was carried out under the Petroleum Industry Act 2021, which converted the national oil company into a commercially driven limited liability company wholly owned by the Federal Government.

To support its case, SERAP cited provisions of the Nigerian Constitution and international anti-corruption agreements that encourage openness and accountability in the management of public resources.

As of the time of filing the suit, no date had been fixed for the hearing of the case.