SERAP demands probe Into ₦5.9bn NNPC Ltd rebranding

The Socio-Economic Rights and Accountability Project (SERAP) has formally petitioned President Bola Tinubu to investigate the ₦5.9 billion reportedly spent on rebranding the Nigerian National Petroleum Corporation (NNPC) to the Nigerian National Petroleum Company Limited (NNPC) Ltd.

In an open letter dated March 14, 2026, SERAP Deputy Director Kolawole Oluwadare called for the Attorney General and anti-corruption agencies the EFCC and ICPC to scrutinize the procurement process.

The ₦5.9 billion total is allegedly comprised of two separate ₦2.9 billion deductions: one from petroleum product proceeds and another from crude oil revenue via the National Petroleum Investment Management Services (NAPIMS).

SERAP contends that such a massive expenditure on a name change and corporate transition requires full transparency to ensure value for money.

The organization highlighted that the transition, mandated by the Petroleum Industry Act (PIA) 2021, must still comply with constitutional requirements to abolish corrupt practices and protect national resources.

SERAP has given the federal government a seven-day ultimatum to initiate an investigation before considering legal action to compel accountability.