The Socio-Economic Rights and Accountability Project (SERAP) has filed a lawsuit against the Nigerian National Petroleum Company Limited (NNPCL), seeking accountability over an alleged ₦5.9 billion expenditure incurred during the transition and rebranding of the former Nigerian National Petroleum Corporation (NNPC) to NNPCL.
SERAP disclosed the development on Sunday, stating that the suit was filed last week at the Federal High Court in Abuja under suit number FHC/ABJ/CS/1248/2026.
According to the organisation, the NNPC reportedly spent ₦2.9 billion from petroleum product proceeds on incorporation expenses, while the National Petroleum Investment Management Services (NAPIMS) allegedly charged another ₦2.9 billion to crude oil revenue for the same purpose, bringing the total expenditure on the rebranding process to approximately ₦5.9 billion.
In the suit, SERAP is asking the court to issue an order of mandamus compelling NNPCL to provide a full account of the funds allegedly spent on the rebranding exercise.
The group is specifically seeking a comprehensive reconciliation statement detailing the financial transactions connected to the expenditure, including the identities of contractors engaged for the project and how the funds were utilised.
SERAP is also requesting the court to compel NNPCL to disclose the names and official positions of government officials who approved and authorised the release of the funds, as well as clarify whether the expenditure complied with procurement laws and due-process requirements.
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The organisation argued that Nigerians have a right to know how public resources were spent, stressing that transparency and accountability are essential in the management of funds within the petroleum sector.
“There ought to be full transparency and accountability regarding the reported ₦5.9 billion spent on rebranding NNPC to NNPCL,” SERAP stated, adding that citizens deserve to know who approved the expenditure, who received the funds, the services rendered, and whether all legal and procurement procedures were followed.
SERAP further maintained that disclosure of the officials involved and the approval processes would enable the public to determine whether the expenditure was properly authorised, represented value for money, and complied with applicable laws.
The organisation noted that given the magnitude of the reported expenditure and the strategic importance of the petroleum industry to Nigeria’s economy, there is an urgent need for a thorough and transparent explanation of how the funds were spent.
As of the time of filing this report, NNPCL had not publicly responded to the lawsuit.