FG slams Atiku, others over OPL 245, says opposition to resolution driven by ‘selfish interests’
CHIGOZIE AMADI
The Federal Government has fired back at Former Vice President of Nigeria and leading figure of the African Democratic Congress (ADC), Atiku Abubakar, and other critics of the recent OPL 245 dispute resolution, describing those opposing the deal as individuals pursuing “selfish” rather than patriotic interests.
In a strongly worded statement released by the Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, the government specifically addressed recent “misrepresentations” attributed to the Atiku Abubakar Media Office regarding the oil block.
A Decades-Long Standoff
The AGF noted that the OPL 245 dispute has spanned nearly three decades, dating back to its original award to Malabu Oil & Gas Ltd in 1998. After years of revocations, reallocations to Shell (SNEPCo) and Eni (Agip), and international legal battles in the UK, US, and Italy, the block remained undeveloped.
Fagbemi emphasized that the current administration, under President Bola Tinubu, has finally brokered a landmark settlement to move the project forward.
Avoiding a $2 Billion Liability
The Minister revealed that Nigeria was facing a potential liability of over US$2 billion in damages at the International Centre for Settlement of Investment Disputes (ICSID). The arbitration, initiated by Eni and Agip, argued that Nigeria’s delay in converting the OPL into an Oil Mining Lease (OML) breached international investment treaties.
“The arbitration was not concerned with ownership of Malabu,” the AGF clarified. “It focused strictly on whether Nigeria had wrongfully delayed the conversion of OPL 245 into an OML.”
Economic Impact
The resolution is expected to unlock massive value for the Nigerian economy, including:
An additional 150,000 barrels per day to national oil production.
A large-scale floating production system with gas export components for Nigeria LNG.
Increased government revenue and enhanced energy security.
Legal Finality
Fagbemi pointed to a 2025 Court of Appeal ruling (Nigerian Agip Exploration Limited v. Malabu Oil & Gas Ltd) which dismissed challenges to the block’s allocation, labeling such legal maneuvers as an “abuse of court process.”
The Verdict
The AGF concluded that the persistence of critics, despite clear legal and commercial benefits, suggests they are driven by “undisclosed and self-serving interests.”
“Those advancing such narratives seek to deny over 200 million Nigerians the economic benefits of a critical national asset,” the statement read. “The national interest must not be sacrificed on the altar of hidden agendas.”
