₦airaland Forum

Lateef Fagbemi, attorney-general of the federation (AGF) and minister of justice, says criticisms by former Vice-President Atiku Abubakar over the federal government’s resolution of the OPL 245 dispute are driven by “self-serving interests” rather than patriotism or objective reasoning.

On March 5, the presidency announced the successful conclusion of a settlement agreement between the federal government, Eni, and Nigerian Agip Exploration Limited (NAEL).

The AGF had described the development as a milestone in repositioning Nigeria’s economic landscape.

However, the former vice-president, in a statement on Sunday, criticised the federal government’s handling of the OPL 245 dispute, describing the claimed resolution as “nothing more than political theatrics”, insisting that “the matter is far from resolved” as it remains subject to ongoing legal proceedings.

He also alleged that key stakeholders were excluded from the process, warning that “a government that sidelines critical stakeholders, disregards pending judicial processes, and proceeds to celebrate a disputed agreement demonstrates not strength, but recklessness.”

Responding to the criticism in a statement issued on Wednesday, Fagbemi said Abubakar’s position misrepresented what he described as a “landmark achievement” by the current administration in resolving a dispute that has spanned nearly three decades.

The attorney-general said the opposition to the deal was “both revealing and deeply concerning”, adding that “the persistence of these criticisms, despite clear legal, commercial, and national interest considerations, strongly suggests that they are driven not by patriotism or objective reasoning, but by undisclosed and self-serving interests”.

Fagbemi added that those advancing such claims are attempting to frustrate a lawful resolution, warning that “their posture is not only misleading but ultimately inimical to the collective interest, as it seeks to deny over 200 million Nigerians the economic and developmental benefits of a critical national asset”.

He said the resolution followed years of litigation arising from the allocation of OPL 245, which was originally awarded to Malabu Oil and Gas Limited in 1998, revoked in 2001, and later reassigned to Shell Nigeria Ultra-Deep Limited in 2002 — developments that triggered prolonged disputes and investigations.

According to him, the disputes were addressed through the 2011 resolution agreement involving the federal government, Malabu, Shell, and Eni entities, under which Malabu relinquished its claims to the oil block for consideration, while the block was reallocated to Shell and its partners.

The minister said the transaction and related actions had undergone “rigorous judicial scrutiny” across multiple jurisdictions, including the United States, the United Kingdom (UK), and Italy, adding that no wrongdoing was established against the companies involved.

He added that Nigeria faced a potential liability exceeding $2 billion following arbitration proceedings initiated by Eni entities at the International Centre for Settlement of Investment Disputes (ICSID), noting that the government’s action helped avert significant financial exposure.

The attorney-general said the arbitration was strictly about treaty obligations and licensing decisions, adding that individuals now laying claim to interests in Malabu neither participated in nor had a legal basis to intervene in the proceedings.

“The arbitration was not concerned with questions of ownership of Malabu or internal disputes within the company. Rather, it focused strictly on whether Nigeria had wrongfully delayed or refused the conversion of OPL 245 into an OML and whether such actions breached its treaty obligations to foreign investors,” the AGF noted.

“At no point did the individuals now laying claim to interests in Malabu initiate proceedings in that forum, nor did they possess a legal basis to intervene in a dispute centred on sovereign obligations and licensing decisions.”

He also cited the decision of the court of appeal in Nigerian Agip Exploration Limited v. Malabu Oil & Gas Ltd (2025), which dismissed Malabu’s challenge to the allocation of OPL 245 as statute-barred and an abuse of court process.

Fagbemi said the resolution would unlock the economic potential of the oil block, projected to contribute about 150,000 barrels per day to Nigeria’s production capacity, with associated gas export benefits linked to Nigeria’s liquefied natural gas (LNG).

He added that the agreement would enhance government revenue, strengthen energy security, and boost investor confidence, describing OPL 245 as a long-delayed asset now positioned for full development.

Fagbemi urged Nigerians to “view such interventions with the caution they deserve and reject efforts aimed at derailing progress for narrow personal or political gain”, stressing that “the national interest must not be sacrificed on the altar of hidden agendas.”

ZombieTERROR:
Fagbemi is a Yoruba man

Casey closed

Freetech:
Atiku is looking for what remains of national asset to sell.

All his criticism is directed at his pain that the opl is not going to yield fund he'll end up using to flex in Dubai at the expense of Nigeria.

He's the MMM leader according to Sowore

ZombieTERROR:
Fagbemi is a Yoruba man

Casey closed

anonimi:
Atiku’s deregulation and privatisation policies were the bedrock of PDP’s 16 years of widespread prosperity, peace and security with less debt burden for Nigerians.

What is Tinubu doing with the greater public money he has been stealing since 1999 from Lagosians and since 2023 from Nigerians

atobs4real:
We all know baba Atiku to be selfish and ingrate

Freetech:
Atiku is looking for what remains of national asset to sell.

All his criticism is directed at his pain that the opl is not going to yield fund he'll end up using to flex in Dubai at the expense of Nigeria.

He's the MMM leader according to Sowore

bewla:
Look at construction and massage not the messenger

Some time we should not play tribalism or religion politics
To national interest

creativejagaban:
Yes he is, and a proud Agbadorian.
I am also a Yoruba man and a proud Agbadorian.
Awalokan.
@CityBoyMovement
#CityBoyMovement

Tinubu till 2031.

ZombieTERROR:
Fagbemi is a Yoruba man

Casey closed

Flame333:
The same thing they said about him when he proposed to sell our refinery of elected but the same APC criticizing him are the ones doing far worst....


We know how the matter dey go

anonimi:
Atiku’s deregulation and privatisation policies were the bedrock of PDP’s 16 years of widespread prosperity, peace and security with less debt burden for Nigerians.

What is Tinubu doing with the greater public money he has been stealing since 1999 from Lagosians and since 2023 from Nigerians

Vision101:
Like deregulation and privatisation of NEPA.
Like deregulation and privatisation of ascon.
Like deregulation and privatisation of nnpc.

anonimi:
Like the

- deregulation of the telecom sector,
- privatisation of NNPC's petrochemicals divsion to Indorama,
- privatisation of Nigeria Air to Virgin Atlantic

The overall success of these policies gave us 16 years of widespread prosperity, peace and security with low debt burden that APC and Tinubu have destroyed since 2015.

Vision101:
The telecom sector was only deregulated. Gsm was allowed in because it was the latest technology. Even smaller nations had it. Where are the assets of nitel? Efforts to privatize nitel failed woefully. Atiku and his friends vandalized the once national priced asset.

Privatisation of Nigerian airways to Virgin Atlantic? Are you for real? Nigerian airways that was ran aground? All assets vandalized. Up till now past workers have not been settled their entitlements. Where is our national carrier that replaced Nigeria Airways? Virgin is a British airline and has remained so.

You have not lectured me on the privatisation of Nigeria National Shipping Line. Where is it today? Where are the ships?

You have not told me how privatized NEPA became worse than old NEPA after injecting over 16 billion dollars. We are still suffering it till today.

anonimi:
If Atiku did any wrong, why has he not been prosecuted since 2003 after Obasanjo secured his second term, and since 2015 when APC corruption fighter Buhari was allowed to change Nigeria?

How many billions of dollars have been spent by APC to give 150 million Nigerians adequate electricity, since they have borrowed more than PDP despite removing subsidy TWICE and bragging about hitting higher revenue targets in August to stop borrowing?




https://www.youtube.com/watch?v=Lba6Uf64Ogc?si=H6Ptc379xURX51Wd

Vision101:
When they are discussing what you don't know it's more honourable to remain silent.