SERAP URGES TINUBU TO REVERSE RECENT PETROL PRICE HIKE AMID RISING CONCERNS
Overview: The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to reverse the recent petrol price increase, which has seen prices surpass N1,000 per litre. In a letter addressed to the President, SERAP emphasized that the Nigerian National Petroleum Company Limited (NNPCL) should revert the second petrol price hike within a month, as the organization has filed a lawsuit challenging the legality of the NNPCL's authority to set these prices.
Key Points:
1. SERAP's Legal Action and Concerns: SERAP previously filed a lawsuit against President Tinubu and NNPCL for failing to reverse the previous fuel price increase and for not investigating corruption allegations within the NNPCL. They argue that allowing the recent price surge while the case is still pending risks undermining justice and public trust in Nigeria’s judicial system.
2. Price Hike and Its Impact: The current petrol prices range from N998 to N1,500 per litre, depending on the region, with Lagos witnessing some of the steepest hikes. These increases are putting immense financial pressure on Nigerians, especially as inflation continues to rise.
3. SERAP's Argument on Rule of Law: SERAP has pointed out that the increase contradicts President Tinubu's promises to uphold the rule of law. The organization insists that the price adjustment, before the court resolves the case, prejudices the legal process and diminishes public confidence in governance.
Conclusion: SERAP is pushing for immediate government action to reverse the petrol price hike, stressing the importance of upholding the integrity of the judiciary and shielding citizens from further economic hardship. Failure to comply may lead to additional legal actions from the organization.
Overview: The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to reverse the recent petrol price increase, which has seen prices surpass N1,000 per litre. In a letter addressed to the President, SERAP emphasized that the Nigerian National Petroleum Company Limited (NNPCL) should revert the second petrol price hike within a month, as the organization has filed a lawsuit challenging the legality of the NNPCL's authority to set these prices.
Key Points:
1. SERAP's Legal Action and Concerns: SERAP previously filed a lawsuit against President Tinubu and NNPCL for failing to reverse the previous fuel price increase and for not investigating corruption allegations within the NNPCL. They argue that allowing the recent price surge while the case is still pending risks undermining justice and public trust in Nigeria’s judicial system.
2. Price Hike and Its Impact: The current petrol prices range from N998 to N1,500 per litre, depending on the region, with Lagos witnessing some of the steepest hikes. These increases are putting immense financial pressure on Nigerians, especially as inflation continues to rise.
3. SERAP's Argument on Rule of Law: SERAP has pointed out that the increase contradicts President Tinubu's promises to uphold the rule of law. The organization insists that the price adjustment, before the court resolves the case, prejudices the legal process and diminishes public confidence in governance.
Conclusion: SERAP is pushing for immediate government action to reverse the petrol price hike, stressing the importance of upholding the integrity of the judiciary and shielding citizens from further economic hardship. Failure to comply may lead to additional legal actions from the organization.