Nigeria Resolves OPL 245 Dispute, Boosts Investor Confidence

Heineken Lokpobiri, the Minister of State for Petroleum Resources, praised the resolution of the long-standing dispute over the OPL 245 oil prospecting license, describing it as a major boost for investor confidence in Nigeria's oil and gas sector. The settlement agreement, which involved the Federal Government and Eni, along with Nigerian Agip Exploration, was commended for its role in creating a stable and predictable environment for investors.

Lokpobiri highlighted that the resolution reflects President Bola Tinubu's administration's commitment to addressing legacy issues in the oil and gas sector. He signed the agreement on behalf of the country, alongside the Attorney General of the Federation and the Minister of Justice.

The Minister urged Eni to expedite its final investment decision on the project, emphasizing the importance of resolving the matter amicably to maximize economic benefits from the asset. The resolution sends a positive signal to global investors about Nigeria's readiness to create a sustainable investment-friendly environment.