Former Vice President Atiku Abubakar has stated that the ongoing OPL 245 dispute is far from resolved, noting that multiple subsisting legal proceedings remain pending before the Supreme Court and the Federal High Court.
Speaking through The Atiku Media Office, the former vice president expressed concern over a pre-action notice from Malabu Oil and Gas Limited, served through its counsel, Chief R. O. Atabo, SAN. According to him, the notice challenges the Federal Government’s claims of a final resolution to the long-running dispute over the oil block.
Atiku said Malabu, described as a principal stakeholder with longstanding legal and equitable interests, was neither consulted nor involved in any reported negotiation or settlement process. He questioned the legality and transparency of a “Resolution Agreement” reportedly executed at the Presidential Villa.
He also criticised the Attorney-General of the Federation, Lateef Fagbemi, for what he described as a “carefully constructed narrative of victory,” adding that recent developments expose what he considers premature claims by the government.
The Federal Government had in recent weeks announced what it described as a “breakthrough settlement” in the OPL 245 case, which has involved international arbitration and multiple parties since 2011. Official statements from the AGF’s office presented the agreement as a step toward recovering national assets, although details remain limited pending court outcomes.
The Atiku Media Office also raised concerns over reports of a planned sale of up to 30 per cent of Nigeria’s Joint Venture assets under NNPC Limited. It described the assets as strategic national holdings central to revenue generation and urged the Petroleum and Natural Gas Senior Staff Association of Nigeria, Nigeria Union of Petroleum and Natural Gas Workers, and other stakeholders to remain vigilant against opaque transactions.
Additionally, the office flagged reports that NNPC Upstream Investment Management Services is relocating to Lagos, with an alleged annual rental cost exceeding N9 billion. It noted Nigeria’s rising debt servicing burden, which increased from nearly N7 trillion in 2023 to about N16 trillion, raising questions about fiscal priorities amid such expenditures.
Atiku further mentioned unrefuted allegations linking the property to interests associated with the President’s family, emphasising the need for transparency.
He framed the OPL 245 issue as emblematic of broader challenges in the oil and gas sector, including economic hardship, insecurity, and institutional trust, reiterating calls for accountability, transparency, and respect for the rule of law.
NNPC Limited and the AGF’s office had yet to respond to the statement as of press time.
The OPL 245 saga, involving Eni and Shell, dates back to a 1998 allocation that later became mired in corruption allegations and has since generated ongoing global legal battles.
