OPL 245 DISPUTE: ATIKU AND AGF LOCK HORNS OVER SETTLEMENT
GREATRIBUNETVNEWS–THE controversy surrounding the OPL 245 oil block has escalated, with former Vice President Atiku Abubakar and Attorney-General Lateef Fagbemi trading barbs over the settlement .
Atiku Abubakar insists that the dispute remains unresolved, citing pending court cases and exclusion of key stakeholders, including Malabu Oil and Gas Limited, from the negotiation process. He emphasizes that his stance is based on publicly available documents and a commitment to upholding the rule of law .
_Atiku’s Key Points:_
– Pending Court Cases: Multiple suits concerning the oil block are still before the Supreme Court and Federal High Court.
– Exclusion of Stakeholders: Malabu Oil and Gas Limited, a principal stakeholder, was not consulted or involved in the negotiation process.
– Rule of Law: Atiku stresses the importance of transparency, due process, and adherence to the rule of law.
On the other hand, Attorney-General Lateef Fagbemi maintains that the dispute has been conclusively resolved, citing a 2011 Resolution Agreement and a 2025 Court of Appeal ruling. He argues that Atiku’s criticism is driven by self-serving interests and undermines a landmark achievement of the current administration
_Fagbemi’s Key Points:_
– Resolution Agreement: The 2011 agreement required Malabu to relinquish claims in exchange for valuable consideration.
– Court Ruling: The Court of Appeal dismissed Malabu’s challenge to the allocation of OPL 245 as statute-barred.
– National Interest: Fagbemi emphasizes that the settlement will unlock immense value for Nigeria, adding 150,000 barrels per day to oil production.
He maintained that the resolution represents a lawful and strategic move capable of unlocking significant economic value for Nigeria, warning that attempts to discredit it could undermine national interest
About the Author
