The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has dismissed criticisms surrounding the Federal Government’s resolution of the long-running dispute over the OPL 245 oil block, describing the opposition as self-serving and contrary to national interest.
In a statement on Wednesday, Fagbemi said comments attributed to the Atiku Abubakar Media Office misrepresented what he called a landmark achievement by the current administration in resolving a dispute that has lasted nearly three decades.
He recalled that OPL 245 was initially awarded to Malabu Oil and Gas Limited in 1998, revoked in 2001, and later reallocated to Shell Nigeria Ultra-Deep Limited in 2002—developments that triggered years of litigation and legislative scrutiny.
According to the minister, the disputes were eventually addressed through a 2011 Resolution Agreement involving the Federal Government, Malabu, Shell, and Eni entities, under which Malabu relinquished its claims while the block was reassigned to Shell and its partners.
Fagbemi noted that the agreement and related transactions underwent extensive judicial review in multiple jurisdictions, including the United States, the United Kingdom, and Italy, with no wrongdoing established against the companies involved.
He further revealed that delays in converting the asset into an Oil Mining Lease led Eni and its affiliates to initiate arbitration proceedings against Nigeria at the International Centre for Settlement of Investment Disputes, exposing the country to potential liabilities exceeding $2 billion.
Explaining the scope of the arbitration, Fagbemi said it focused strictly on whether Nigeria breached its treaty obligations and did not address ownership disputes within Malabu.
He added that those currently opposing the resolution neither participated in the arbitration nor had the legal standing to intervene in matters relating to sovereign obligations.
The minister emphasised that OPL 245, located about 150 kilometres offshore, is one of Nigeria’s most commercially viable hydrocarbon assets but had remained undeveloped for years due to legal and political disputes.
He stated that the intervention of the Federal Government of Nigeria under Bola Ahmed Tinubu has resolved the impasse, paving the way for full development of the asset while averting significant financial risks.
According to him, the oil block is projected to contribute about 150,000 barrels per day to Nigeria’s production capacity, alongside additional gas export potential linked to Nigeria LNG.
Fagbemi said the development would boost government revenue, strengthen energy security, and restore investor confidence in the oil and gas sector.
He also referenced a recent Court of Appeal ruling which dismissed Malabu’s challenge to the oil block allocation, describing the suit as statute-barred and an abuse of court process.
However, the AGF warned that continued opposition to the resolution raises concerns about the motives of those involved, suggesting such criticisms are aimed at undermining a lawful and strategic outcome.
He urged Nigerians to disregard what he described as misleading narratives and support efforts to maximise the asset’s benefits for national development.
“The national interest must not be sacrificed on the altar of hidden agendas,” he said.
