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The Federal Government has retaliated against Atiku Abubakar, a prominent member of the African Democratic Congress (ADC) and former vice president of Nigeria, as well as other opponents of the recent OPL 245 dispute resolution, characterizing those who oppose the agreement as people pursuing “selfish” rather than patriotic goals.
The government explicitly addressed recent “misrepresentations” attributed to the Atiku Abubakar Media Office over the oil block in a strongly worded statement issued by Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN.
A Standoff Lasting Decades
The AGF pointed out that since its initial award to Malabu Oil & Gas Ltd. in 1998, the OPL 245 dispute has lasted for almost thirty years. The block remained underdeveloped after years of revocations, reallocations to Shell (SNEPCo) and Eni (Agip), and international legal disputes in the US, Italy, and the UK.
In order to advance the project, Fagbemi underlined that the current administration, led by President Bola Tinubu, had finally mediated a historic settlement.
Preventing a $2 Billion Obligation
At the International Centre for Settlement of Investment Disputes (ICSID), the Minister disclosed that Nigeria might be liable for damages exceeding US$2 billion. Eni and Agip started the arbitration, claiming that Nigeria had violated international investment treaties by taking too long to convert the OPL into an Oil Mining Lease (OML).
The AGF emphasized, “The arbitration was not concerned with ownership of Malabu.” “It was solely concerned with whether Nigeria had improperly postponed OPL 245’s conversion into an OML.”
Economic Effects
The resolution is anticipated to unlock significant economic benefits for Nigeria, such as:
an extra 150,000 barrels a day to the country’s oil output.
A massive floating production system for Nigerian LNG that includes components for gas export.
improved energy security and more money for the government.
Finality in Law
Fagbemi cited a 2025 Court of Appeal decision (Nigerian Agip Exploration Limited v. Malabu Oil & Gas Ltd.) that rejected objections to the block’s distribution, calling such legal tactics a “abuse of court process.”
The Judgment
The AGF came to the conclusion that critics are motivated by “undisclosed and self-serving interests” because of their persistence in spite of obvious legal and commercial advantages.
According to the statement, “those promoting such narratives seek to deny over 200 million Nigerians the economic benefits of a critical national asset.” “Hidden agendas must not be sacrificed for the sake of the country.”
