The Attorney-General of the Federation and Minister of Justice, Lateef O. Fagbemi, has said that criticisms trailing the recent resolution of disputes surrounding the OPL 245 oil block are motivated by selfish interests rather than patriotism.
In a press statement issued on Wednesday, Fagbemi faulted media reports attributed to the media office of former Vice-President, Atiku Abubakar, accusing them of misrepresenting what he described as a landmark achievement by the current administration in resolving a nearly three-decade-long dispute.
The Attorney-General traced the history of the controversial oil block, noting that OPL 245 was initially awarded to Malabu Oil & Gas in 1998, revoked in 2001, and later allocated to Shell Nigeria Ultra-Deep Limited in 2002—developments that triggered prolonged litigation and legislative scrutiny.
He explained that the disputes were addressed through a 2011 Resolution Agreement involving the Federal Government, Malabu, Shell Nigeria Ultra-Deep Limited (now Shell Nigeria Exploration and Production Company Limited), and Nigerian Agip Exploration (NAE)/Eni entities. Under the agreement, Malabu relinquished its claims to the oil block, which was subsequently reallocated to SNEPCo and NAE as joint license holders.
According to Fagbemi, subsequent legal proceedings across multiple jurisdictions, including the United States, the United Kingdom, and Italy, did not establish wrongdoing against the oil companies or the transaction.
He further disclosed that following delays by the Federal Government in converting OPL 245 into an Oil Mining Lease, Eni entities initiated arbitration proceedings against Nigeria at the International Centre for Settlement of Investment Disputes (ICSID) in 2020, citing breaches of the Nigeria–Netherlands Bilateral Investment Treaty.
Nigeria, he said, faced potential liabilities exceeding $2 billion as a result of the dispute.
The Attorney-General stressed that the arbitration proceedings were limited to treaty obligations and did not involve ownership disputes over Malabu, noting that none of the individuals currently laying claim to interests in the company participated in the arbitration.
Highlighting the economic importance of the asset, Fagbemi described OPL 245 as one of Nigeria’s most commercially viable offshore oil blocks, located about 150 kilometres off the coast, with the potential to produce approximately 150,000 barrels of oil per day.
He said the Tinubu administration’s intervention aims to unlock the asset’s potential, boost government revenue, enhance energy security, and restore investor confidence.
Fagbemi also cited a recent Court of Appeal judgment in Nigerian Agip Exploration Limited v. Malabu Oil & Gas Ltd (2025), which dismissed Malabu’s challenge to the allocation of the oil block, ruling that the suit was statute-barred and an abuse of court process.
He maintained that continued opposition to the resolution, despite legal and commercial clarity, raises concerns about hidden agendas.
“The persistence of these criticisms strongly suggests that they are driven not by patriotism or objective reasoning, but by undisclosed and self-serving interests,” he said.
Fagbemi urged Nigerians to reject attempts to undermine what he described as a lawful and strategic resolution capable of delivering significant economic benefits to the country.
He warned that such opposition could derail progress and deny Nigerians the full benefits of a critical national asset.
