Lateef Fagbemi, attorney-general of the federation (AGF) and minister of justice, says criticisms by former Vice-President Atiku Abubakar over the federal government’s resolution of the OPL 245 dispute are driven by “self-serving interests” rather than patriotism or objective reasoning.
On March 5, the presidency announced the successful
conclusion of a settlement agreement between the federal government, Eni, and
Nigerian Agip Exploration Limited (NAEL).
The AGF had described the development as a milestone in
repositioning Nigeria’s economic landscape.
However, the former vice-president, in a statement on
Sunday, criticised the federal government’s handling of the OPL 245 dispute,
describing the claimed resolution as “nothing more than political theatrics”,
insisting that “the matter is far from resolved” as it remains subject to
ongoing legal proceedings.
He also alleged that key stakeholders were excluded from the
process, warning that “a government that sidelines critical stakeholders,
disregards pending judicial processes, and proceeds to celebrate a disputed
agreement demonstrates not strength, but recklessness.”
Responding to the criticism in a statement issued on
Wednesday, Fagbemi said Abubakar’s position misrepresented what he described as
a “landmark achievement” by the current administration in resolving a dispute
that has spanned nearly three decades.
The attorney-general said the opposition to the deal was
“both revealing and deeply concerning”, adding that “the persistence of these
criticisms, despite clear legal, commercial, and national interest
considerations, strongly suggests that they are driven not by patriotism or
objective reasoning, but by undisclosed and self-serving interests”.
Fagbemi added that those advancing such claims are
attempting to frustrate a lawful resolution, warning that “their posture is not
only misleading but ultimately inimical to the collective interest, as it seeks
to deny over 200 million Nigerians the economic and developmental benefits of a
critical national asset”.
He said the resolution followed years of litigation arising
from the allocation of OPL 245, which was originally awarded to Malabu Oil and
Gas Limited in 1998, revoked in 2001, and later reassigned to Shell Nigeria
Ultra-Deep Limited in 2002 — developments that triggered prolonged disputes and
investigations.
According to him, the disputes were addressed through the
2011 resolution agreement involving the federal government, Malabu, Shell, and
Eni entities, under which Malabu relinquished its claims to the oil block for
consideration, while the block was reallocated to Shell and its partners.
The minister said the transaction and related actions had
undergone “rigorous judicial scrutiny” across multiple jurisdictions, including
the United States, the United Kingdom (UK), and Italy, adding that no
wrongdoing was established against the companies involved.
He added that Nigeria faced a potential liability exceeding
$2 billion following arbitration proceedings initiated by Eni entities at the
International Centre for Settlement of Investment Disputes (ICSID), noting that
the government’s action helped avert significant financial exposure.
The attorney-general said the arbitration was strictly about
treaty obligations and licensing decisions, adding that individuals now laying
claim to interests in Malabu neither participated in nor had a legal basis to
intervene in the proceedings.
“The arbitration was not concerned with questions of
ownership of Malabu or internal disputes within the company. Rather, it focused
strictly on whether Nigeria had wrongfully delayed or refused the conversion of
OPL 245 into an OML and whether such actions breached its treaty obligations to
foreign investors,” the AGF noted.
“At no point did the individuals now laying claim to
interests in Malabu initiate proceedings in that forum, nor did they possess a
legal basis to intervene in a dispute centred on sovereign obligations and
licensing decisions.”
He also cited the decision of the court of appeal in
Nigerian Agip Exploration Limited v. Malabu Oil & Gas Ltd (2025), which
dismissed Malabu’s challenge to the allocation of OPL 245 as statute-barred and
an abuse of court process.
Fagbemi said the resolution would unlock the economic potential of the oil block, projected to contribute about 150,000 barrels per day to Nigeria’s production capacity, with associated gas export benefits linked to Nigeria’s liquefied natural gas (LNG).
He added that the agreement would enhance government
revenue, strengthen energy security, and boost investor confidence, describing
OPL 245 as a long-delayed asset now positioned for full development.
Fagbemi urged Nigerians to “view such interventions with the
caution they deserve and reject efforts aimed at derailing progress for narrow
personal or political gain”, stressing that “the national interest must not be
sacrificed on the altar of hidden agendas.”
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