SERAP demands prompt compliance within 7 days, warning that non-compliance will result in legal action against the government in the public interest.
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to urgently disclose the specifics of the approximately ₦400 billion in savings resulting from the removal of petrol subsidy.
In addition, SERAP has demanded information regarding the government’s plans for future savings from the subsidy removal and the specific projects that will benefit from these funds.
To ensure that the savings are not misused or diverted for personal gain, the group has also requested details regarding the mechanisms put in place to safeguard these funds. According to media reports cited by SERAP, the federal government has already saved ₦400 billion within four weeks of implementing the subsidy removal policy.
The request from SERAP was conveyed in a letter dated July 1, 2023, signed by Kolawole Oluwadare, the organisation’s Deputy Director.
The organisation calls for prompt action within seven days to comply with their request, stating that failure to do so will lead SERAP to consider legal measures in the public interest.
Why SERAP made this demand
SERAP highlights the importance of preventing corruption in the spending of the subsidy savings and addressing the challenges arising from its removal, stating that these efforts serve the legitimate public interest. The organisation asserts that Nigerians have the right to know how these savings will be allocated, and that transparency in publishing the details of the spending will promote accountability and reduce the risk of corruption.
Expressing concern that the savings may be embezzled, misappropriated, or diverted for personal gain, SERAP warns that opacity in spending would have negative consequences for citizens and the public interest.
SERAP emphasises that without transparency and accountability in the spending of subsidy savings, the removal of the subsidy will continue to undermine the rights of Nigerians and exacerbate poverty and social deprivation. Transparency, the organisation argues, is essential to prevent the diversion of funds into private pockets, foster public trust, and ensure the benefits reach the Nigerian population.
SERAP also highlights the lack of transparency and accountability in the implementation and spending of the National Social Safety Net Programme (NASSP). The publication of details regarding the ₦400 billion spending and other savings resulting from the subsidy removal would hold public officials accountable for their management of funds and ensure that they are answerable to the people.
The organisation asserts that the lack of transparency and accountability in spending subsidy savings directly threatens fundamental human rights and that the government has a legal obligation to address the impact of the subsidy removal on the rights of 137 million poor Nigerians.
SERAP further calls on President Tinubu to promptly instruct the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to monitor the expenditure of all savings resulting from the subsidy removal.
