Nigeria’s Attorney-General and Minister of Justice, Lateef Olasunkanmi Fagbemi, has defended the Federal Government’s resolution of the long-running OPL 245 oil block dispute, describing it as a landmark achievement and accusing critics of acting in self-interest rather than in the national interest.
In a statement issued on 25 March 2026, Mr Fagbemi criticised comments linked to the media office of former Vice-President Atiku Abubakar, which questioned the settlement.
He maintained that the agreement brings to a close nearly three decades of legal and commercial uncertainty surrounding one of Nigeria’s most valuable offshore assets.
OPL 245 was originally awarded to Malabu Oil & Gas in 1998, revoked in 2001, and reallocated in 2002, sparking years of litigation.
A 2011 agreement involving the Federal Government, Malabu, Shell and Eni entities resolved competing claims, with Malabu relinquishing its interest in exchange for compensation.
Subsequent court cases in multiple jurisdictions, including Europe and the United States, did not establish wrongdoing in the transaction.
The dispute later escalated to arbitration at the International Centre for Settlement of Investment Disputes, where Nigeria faced potential liabilities exceeding $2 billion over delays in converting the licence for production.
The Attorney-General said the recent resolution helps the country avoid significant financial exposure while paving the way for development.
He added that a 2025 Court of Appeal ruling dismissing Malabu’s claims as statute-barred further strengthens the government’s position.
The project is expected to produce around 150,000 barrels of oil per day and contribute to gas exports, boosting revenue and investor confidence.
Mr Fagbemi concluded that continued opposition to the settlement is “misleading” and risks undermining economic progress, urging Nigerians to reject what he described as attempts to frustrate a lawful and strategic national development.
