OPL 245: FG replies Atiku, says those opposing deal are driven by selfish interests
The Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN has declared that individuals opposing the recent resolution of the OPL 245 dispute are prioritizing selfish interests over national patriotism.
In a statement issued on Wednesday, the Attorney-General referenced a publication from the Atiku Abubakar Media Office describing the former Vice President’s comments as a misrepresentation of a landmark achievement by the President Bola Tinubu administration which has successfully brokered a settlement for a legal conflict spanning nearly thirty years.
The Justice Minister traced the history of the controversial oil block back to its original award to Malabu Oil & Gas Ltd in 1998 and its subsequent revocation in 2001.
He noted that despite decades of litigation in the United States, the United Kingdom, and Italy, no judicial findings established wrongdoing against the current joint license holders, Shell (SNEPCo) and Eni (NAE).
Fagbemi further emphasized that the federal government faced a staggering liability exceeding $2 billion in damages due to arbitration initiated by Eni at the International Centre for Settlement of Investment Disputes (ICSID).
The arbitration was triggered by Nigeria's delay in converting the OPL 245 license into an Oil Mining Lease (OML), a move the Attorney-General argued would have breached treaty obligations to foreign investors.
He further highlighted the immense economic potential of OPL 245, which is located 150 kilometers offshore.
The asset is projected to contribute approximately 150,000 barrels of oil per day to Nigeria’s production capacity. The project also includes a large-scale floating production system and critical gas export components linked to Nigeria LNG.
"For decades, OPL 245 symbolized unrealized national potential," Fagbemi stated.
He argued that the current resolution transforms the block into a viable and bankable development opportunity that will bolster government revenue and national energy security.
The Attorney-General also referenced a recent authoritative judicial pronouncement in the case of Nigerian Agip Exploration Limited v. Malabu Oil & Gas Ltd (2025), where the Court of Appeal dismissed challenges to the block's allocation, labeling such litigation an abuse of the court process.
Fagbemi also urged the public to disregard the misleading narratives surrounding the deal.
He maintained that the persistence of these criticisms, despite clear legal and commercial benefits, suggests they are driven by undisclosed agendas rather than a concern for the 200 million Nigerians who stand to benefit from the asset’s production.