Probe ‘missing’ N94.4bn oil revenue, SERAP urges Tinubu

The Socio-Economic Rights and Accountability Project (SERAP) has called on President Bola Tinubu to investigate over ₦94.4bn in public funds that allegedly went missing or were misused by the Midstream and Downstream Gas Infrastructure Fund and the Nigerian Upstream Petroleum Regulatory Commission. This request comes after the Auditor-General of the Federation published its 2024 Annual Report, which highlighted irregularities in the handling of petroleum revenues and gas-flaring penalties.

SERAP urges the President to direct relevant anti-corruption agencies to investigate these allegations, recover the affected funds, and prosecute those found culpable. The organization demands that the Midstream and Downstream Gas Infrastructure Fund (MDGIF) submit and publish its audited financial statements for 2022, 2023, and 2024, ensuring they are forwarded to the Public Accounts Committees of the National Assembly.

SERAP emphasizes the need for transparency and accountability in the management of Nigeria's petroleum resources, warning of potential legal action if their demands are not met within seven days.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.