The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has pushed back against former Vice President Atiku Abubakar, insisting that the long-running dispute over the OPL 245 oil block has been conclusively resolved.
In a statement issued on Wednesday, Fagbemi faulted claims from Atiku’s camp that the matter remains unsettled, describing such assertions as misleading and driven by undisclosed interests.
“Those advancing such narratives must be understood for what they represent—an attempt to frustrate a lawful and strategic resolution that stands to unlock immense value for the Nigerian people.
“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.
“Nigerians should, therefore, view such interventions with the caution they deserve and reject efforts aimed at derailing progress for narrow personal or political gain. The national interest must not be sacrificed on the altar of hidden agendas,” the AGF added.
He maintained that the administration of President Bola Tinubu had successfully brokered a resolution to a dispute that spanned nearly three decades.
According to the AGF, the settlement clears the path for the full development of the oil block, which is projected to add about 150,000 barrels per day to Nigeria’s production capacity.
He noted that the resolution transforms OPL 245 into a viable and bankable asset capable of boosting government revenue, strengthening energy security, and restoring investor confidence.
Fagbemi also argued that the government’s intervention helped Nigeria avoid potential liabilities exceeding $2 billion arising from arbitration proceedings at the International Centre for Settlement of Investment Disputes (ICSID), triggered by delays in converting the block into an Oil Mining Lease.
Tracing the history of the dispute, the AGF said OPL 245 had been entangled in litigation since its initial award in 1998 and subsequent reallocation, leading to multiple legal battles across jurisdictions, including the United States, the United Kingdom, and Italy.
“The disputes arising from the revocation and reallocation were eventually addressed through the 2011 Resolution Agreement involving the Federal Government of Nigeria (FGN), Malabu, SNUD (now succeeded by Shell Nigeria Exploration and Production Company Limited – SNEPCo), and Nigerian Agip Exploration (NAE)/Eni entities.
He stressed that previous judicial proceedings did not establish wrongdoing against key corporate entities involved in the transaction.
He further cited a recent Court of Appeal ruling which dismissed challenges to the allocation of the oil block, reinforcing the Federal Government’s position on the matter.
However, Atiku, through his media aide, maintained that the dispute is far from over, pointing to ongoing cases before Nigerian courts and alleging that key stakeholders, including Malabu Oil and Gas Limited, were excluded from the purported settlement process.
The former vice president also questioned the transparency and legality of the agreement, warning that sidelining due process could undermine public trust and the integrity of government decisions on critical national assets.
He described as “deeply concerning” the criticism from Atiku’s camp, insisting it was not driven by patriotism but self-serving interests.
“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.
Credit: The Sun