Tinubu restores hope in oil sector, resolves historic OPL 245 dispute, unlocks major deepwater investment

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. As group accuses oil thieves of stocking social media smear campaign against Tantita surveillance contract

CHIGOZIE  AMADI

President Bola Tinubu announced today the successful conclusion of a historic settlement agreement between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited (NAEL) at a meeting in his office attended by the Chief Executive Officer of Eni, Claudio Descalzi, Chief Operating Officer of Eni Guido Brusco, Head of Sub-Saharan Region, Mario Bello, Managing Director of Nigerian Agip Exploration, Fabrizio Bolondi and Special Adviser to the President on Energy, Olu Verheijen.

 

The agreement brought to a close the long-standing dispute over Oil Prospecting Licence (OPL) 245, paving the way for the development of one of Nigeria’s most significant deepwater resources.

 

The agreement, signed in Abuja, marks the resolution of a dispute spanning more than 15 years and restores clarity and stability to an asset widely recognised as one of Nigeria’s most commercially promising deepwater blocks.

 

With the dispute now settled, the pathway is clear for Final Investment Decision on the Zabazaba–Etan development, a project capable of adding approximately 150,000 barrels per day to Nigeria’s production capacity and strengthening the country’s long-term energy outlook.

 

President Bola Ahmed Tinubu described the agreement as a strategic milestone in Nigeria’s economic reform agenda, reaffirming the administration’s commitment to resolving legacy disputes, restoring investor confidence, and ensuring that Nigeria’s natural resources deliver sustainable value to the Nigerian people.

 

“This resolution sends a clear signal to global investors that Nigeria is prepared to address legacy issues transparently, uphold the rule of law, and create a stable environment for long-term capital,” the President said.

 

“The settlement also represents a significant improvement on the 2011 Resolution Agreement, reflecting the policy framework established under the Petroleum Industry Act (PIA) and the administration’s broader fiscal and governance reforms in the energy sector”, said Olu Arowolo-Verheijen, Presidential adviser on energy.

 

“The revised terms strike a balanced outcome providing investors with the clarity and predictability required to proceed with major deepwater investments, while ensuring stronger value accretion and safeguards for the Federation”, Arowolo-Verheijen added.

 

The agreement is part of a wider programme of reforms undertaken since 2023 to restore Nigeria’s competitiveness in global energy markets. These reforms, anchored in the Petroleum Industry Act and supported by targeted executive actions, have already contributed to renewed investor interest and significant capital inflows into Nigeria’s oil and gas sector.

 

“By resolving the OPL 245 dispute, the Federal Government has removed one of the most prominent legacy risks in Nigeria’s upstream sector and reinforced its commitment to predictable regulation, transparent governance, and commercially viable investment frameworks”, Arowolo-Verjeihen further said.

 

President Tinubu commended all institutions and stakeholders who contributed to achieving the settlement, including the Office of the Attorney General of the Federation, the Ministry of Petroleum Resources, the Special Adviser to the President on Energy, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), NNPC Limited, and the leadership of ENI.

 

The successful resolution underscores the Tinubu Administration’s determination to unlock Nigeria’s strategic energy assets, attract responsible investment, and ensure that the nation’s resources translate into growth, jobs, and long-term prosperity for Nigerians.

. As group accuses oil thieves of stocking social media smear campaign against Tantita surveillance contract

Meanwhile, WARRI – A prominent South-South sociopolitical organisation, the Niger Delta Civil Society Forum (NDCSF), has roundly condemned a coordinated campaign of malicious attacks on social media targeting Tantita Security Services Nigeria Limited (TSSNL) and its leadership.

The Forum described the onslaught as a desperate backlash from oil thieves and economic criminals whose illegal operations have been severely disrupted.

In a strongly worded statement issued on Thursday in Warri, Delta State, the NDCSF asserted that the smear tactics would not derail Nigeria’s ongoing economic recovery.

It called on President Bola Ahmed Tinubu to remain steadfast and disregard what it termed the “noise of disgruntled elements masquerading as concerned citizens.”

The statement, signed by the Forum’s Coordinator, Ezekiel Kagbala, expressed deep concern that the sustained campaign against Tantita and its Chairman, High Chief Government Ekpemupolo, widely known as Tompolo, was a deliberate attempt to discredit a security intervention that has significantly bolstered Nigeria’s economy and restored order to the waterways of the Niger Delta.

Since its engagement by the Nigerian National Petroleum Company Limited in August 2022 to protect critical oil and gas infrastructure, Tantita has recorded unprecedented and verifiable successes in combating crude oil theft, pipeline vandalism, and illegal bunkering, the NDCSF noted.

“Crude oil theft has collapsed in major corridors, illegal pipeline connections have been dismantled, and Nigeria’s oil production has rebounded from historic lows to globally respectable levels,” the statement read.

“These achievements are not opinions; they are measurable facts that directly reflect in national revenue and economic stability.”

The Forum highlighted that national crude oil output, which had plummeted to approximately 1.1 million barrels per day prior to Tantita’s deployment, has consistently improved, helping to stabilise government earnings and bolster investor confidence in the sector.

The NDCSF commended Tompolo for what it described as a remarkable turnaround in maritime safety and environmental protection.

It noted with satisfaction that the once lawless creeks and waterways, previously dominated by sea pirates, oil thieves, and criminal gangs, have experienced renewed security, safer navigation, and cleaner environments.

“The waterways of the Niger Delta are now safer for fishermen, traders, and legitimate operators,” the statement added.

“Environmental degradation caused by illegal refining and crude spills has reduced significantly. This is a direct result of Tantita’s intelligence-driven operations and the leadership commitment of High Chief Government Ekpemupolo.”

Accusing the sponsors of the smear campaigns of being “beneficiaries of chaos,” the NDCSF warned that their objective is to weaken enforcement, sabotage progress, and drag the nation back to an era of rampant vandalism, piracy, and economic hemorrhage.

The group cautioned that any attempt to undermine Tantita’s operations constitutes an attack on Nigeria’s national revenue, energy security, and environmental sustainability.

It stressed that the country cannot afford a return to the dark days when oil theft thrived unchecked.

“The criminals are angry because their business has been shut down.
That anger explains the propaganda.

Tantita’s work must be protected, not politicised,” the NDCSF stated, emphasising that progress will invariably attract enemies.

The Forum urged Nigerians to support initiatives that are delivering tangible results.

“Nigeria must choose progress over propaganda, national interest over criminal sympathy, and economic recovery over sabotage,” the statement concluded.

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