By Fatima Saka
The Attorney-General of the Federation and Minister of Justice, Lateef Olasunkanmi Fagbemi, has defended the Federal Government’s resolution of the long-standing dispute over the OPL 245 oil block, describing critics of the deal as pursuing “selfish and not patriotic interests.”
In a statement issued on Wednesday, the AGF dismissed claims attributed to the media office of former Vice-President, Atiku Abubakar, accusing them of misrepresenting the recent settlement reached by the administration of Bola Ahmed Tinubu.
Fagbemi said the resolution marks a “landmark achievement” in ending nearly three decades of disputes surrounding the lucrative offshore oil asset, which had remained undeveloped due to prolonged litigation and political controversies.
He traced the history of the block, noting that OPL 245 was initially awarded to Malabu Oil & Gas in 1998, revoked in 2001, and later allocated to Shell Nigeria Ultra-Deep Limited in 2002—actions that triggered years of legal battles and public scrutiny.
According to the AGF, the disputes were addressed under a 2011 Resolution Agreement involving the Federal Government, Malabu, Shell entities, and Nigerian Agip Exploration (NAE)/Eni. The agreement saw Malabu relinquish its claims, paving the way for the reallocation of the block to Shell Nigeria Exploration and Production Company Limited (SNEPCo) and NAE.
Fagbemi further explained that the transaction underwent extensive judicial scrutiny in multiple jurisdictions, including the United States, the United Kingdom, and Italy, with no wrongdoing established against the companies involved.
He added that arbitration proceedings initiated at the International Centre for Settlement of Investment Disputes (ICSID) by Eni and its affiliates exposed Nigeria to potential liabilities exceeding $2 billion over delays in converting the oil block into an Oil Mining Lease.
“The arbitration was strictly about Nigeria’s treaty obligations and not ownership disputes within Malabu,” he said, noting that those currently contesting the resolution were not parties to the proceedings.
Highlighting the economic significance of the asset, the AGF said OPL 245, located about 150 kilometres offshore, is projected to produce approximately 150,000 barrels of oil per day and contribute significantly to Nigeria’s energy security and revenue base.
He also referenced a recent Court of Appeal judgment in Nigerian Agip Exploration Limited v. Malabu Oil & Gas Ltd, which dismissed Malabu’s challenge to the block’s allocation as statute-barred and an abuse of court process.
Fagbemi stressed that the Tinubu administration’s intervention aims to unlock the full potential of the asset, attract investment, and deliver economic benefits to Nigerians.
Food security: OTACCWA seeks improved cold-chain infrastructure
“The persistence of opposition, despite clear legal and commercial realities, suggests undisclosed and self-serving motives,” he said.
He urged Nigerians to disregard what he described as misleading narratives capable of undermining national interest, warning against attempts to derail a resolution designed to deliver long-term economic gains.
About The Author
