The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, has condemned what he described as a campaign of misinformation against the Federal Government’s recent resolution of the long-standing dispute over Oil Prospecting Licence (OPL) 245.
In a statement released on Tuesday, Fagbemi faulted comments attributed to the Atiku Abubakar Media Office, describing them as misleading and designed to undermine one of the administration’s most significant achievements in resolving a dispute that has dragged on for nearly 30 years.
According to the Minister, the settlement marks a landmark milestone, bringing closure to a chain of controversies that began when the oil block was first awarded to Malabu Oil & Gas Ltd in 1998, revoked in 2001, and later reassigned to Shell Nigeria Ultra-Deep Ltd in 2002. The conflicting allocations triggered years of court actions, investigations, and political battles.
Fagbemi explained that the Federal Government’s 2011 Resolution Agreement with Malabu, Shell (SNEPCo), and Nigerian Agip Exploration (NAE) successfully addressed competing claims, with Malabu relinquishing all interests in the block.
He emphasized that multiple judicial proceedings in the United States, United Kingdom, and Italy had since affirmed the legitimacy of the transaction, finding no wrongdoing by the international oil companies involved.
He noted further that Nigeria faced potential damages of over $2 billion after Eni and NAE instituted arbitration at the International Centre for Settlement of Investment Disputes (ICSID) over delays by the government in converting OPL 245 into an Oil Mining Lease (OML).
The arbitration, he said, focused solely on Nigeria’s treaty obligations and not on ownership disputes within Malabu.
“The stakeholders now claiming interest in Malabu neither participated in the arbitration nor had any legal standing to do so,” he stated, stressing that attempts to revive those claims were baseless.
The AGF highlighted the immense economic potential of OPL 245, located 150 km offshore and estimated to deliver about 150,000 barrels of oil per day once fully developed.
The block also features a significant gas export component tied to Nigeria LNG.
“For decades, OPL 245 symbolized unrealized national potential,” he said.
“The decisive actions taken by the current administration now transform it into a viable development project with far-reaching economic and social benefits.”
Fagbemi referenced the 2025 Court of Appeal judgment in NAE Ltd v. Malabu Oil & Gas Ltd, where the court dismissed Malabu’s challenge to the block’s allocation to SNEPCo, describing the lawsuit as statute-barred and an abuse of court process.
He insisted that continued criticism of the government’s settlement is “deeply concerning” and driven by “self-serving interests,” not national interest.
“Those advancing such narratives seek to frustrate a lawful and strategic resolution that will unlock immense value for Nigerians,” he warned. “Their posture is misleading and inimical to the collective interest.”
The AGF urged Nigerians to be wary of political interventions aimed at derailing progress and to prioritize national interest above personal or political agendas.
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