Amanze Chinonye
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbeni, SAN, has accused critics of the recent OPL 245 dispute resolution of pursuing personal and political interests rather than national welfare, Prime Business Africa reports.
In a press statement issued today, the AGF addressed claims attributed to the media office of former Vice President Atiku Abubakar, which he said misrepresented the administration’s efforts to settle a protracted legal dispute over the high-value offshore oil block.
According to the statement, OPL 245, originally awarded to Malabu Oil & Gas Ltd in 1998, was revoked in 2001 and later allocated to Shell Nigeria Ultra-Deep Limited (SNUD) in 2002, sparking decades of litigation and public scrutiny.
Join our WhatsApp ChannelThe matter was partially resolved through a 2011 agreement involving the Federal Government, Malabu, SNUD (now Shell Nigeria Exploration and Production Company – SNEPCo), and Nigerian Agip Exploration (NAE)/Eni, in which Malabu relinquished its claims for consideration, and the government committed to converting OPL 245 into an Oil Mining Lease (OML).
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Fagbeni emphasized that subsequent litigation in the United States, United Kingdom, and Italy found no wrongdoing on the part of Eni or SNEPCo.
The statement also noted that when Nigeria delayed the OML conversion, Eni and NAE initiated arbitration at the International Centre for Settlement of Investment Disputes (ICSID), seeking damages exceeding US$2 billion a claim unrelated to Malabu’s ownership disputes.
“The decisive action taken by the current administration is aimed at resolving long-standing legal and political obstacles, preventing substantial financial exposure, and unlocking the development potential of one of Nigeria’s most commercially promising offshore oil assets,” the statement read.
The AGF outlined that OPL 245, located about 150 kilometres offshore, is projected to add approximately 150,000 barrels per day to Nigeria’s oil output.
The project includes a floating production system and substantial gas export components, providing opportunities for enhanced revenue, energy security, and renewed investor confidence.
Fagbeni further referenced the 2025 Court of Appeal ruling in Nigerian Agip Exploration Ltd v. Malabu Oil & Gas Ltd, which dismissed Malabu’s challenge to the allocation of OPL 245 to SNEPCo as statute-barred and an abuse of process.
“Those advancing opposing narratives are attempting to frustrate a lawful and strategic resolution that stands to benefit over 200 million Nigerians. Their posture is misleading and contrary to the collective interest,” Fagbeni said.
The Attorney-General urged Nigerians to view such criticisms with caution and to reject efforts aimed at derailing the OPL 245 settlement for personal or political gain, emphasizing that the national interest must remain paramount.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
