President Muhammadu Buhari has reversed his authorisation of
the acquisition of ExxonMobil Corporation assets by Seplat Energy Plc.
In February, Seplat had agreed to acquire the entire share
capital of MPNU from Exxon Mobil for $1.3 billion.
Garba Shehu, presidential spokesperson, disclosed this to
Premium Times, on Wednesday.
Shehu said the president has decided to support the position
of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in the deal.
He said previous confusion was because “various agencies
involved in (the) decision had not coordinated well among themselves”.
When asked if there will be proper communication over the
issue, he said “I have no statement to issue”.
On Monday, President Muhammadu Buhari approved the
acquisition of ExxonMobil Corporation assets by Seplat Energy Plc despite moves
by the state-owned oil company blocking the deal.
But in a twist of events, the Nigerian Upstream Petroleum
Regulatory Commission (NUPRC) said the issue at stake was a regulatory matter.
The regulator had previously declined consent to the deal.
In May, NUPRC had declined to approve the proposed
acquisition due to “overriding national interest”.
In a corporate filing on Wednesday, Seplat Energy said it
followed due process in the acquisition of the assets.
“Seplat Energy has become
aware of news and social media reports alleging impropriety in the process of
securing ministerial consent to the acquisition of Mobil Producing Nigeria
Unlimited by Seplat Energy Offshore Limited,” the statement reads.
“Such reports are wholly untrue and the company will pursue
legal action against any parties involved in disseminating false information
related to its business.”
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