Nigerian Government Defends OPL 245 Resolution Amid Criticism

The Nigerian government, represented by Attorney General Lateef Fagbemi, has defended its handling of the OPL 245 oil block dispute, responding to accusations from Atiku Abubakar that the government misled Nigerians and excluded major stakeholders from the negotiation process. Fagbemi described the resolution as a landmark achievement of President Bola Tinubu's administration, aimed at addressing a dispute that has persisted for nearly three decades.

The OPL 245 block, located 150 kilometers offshore, is considered commercially viable but has remained undeveloped due to legal disputes. The government noted that the 2011 resolution agreement involved Malabu Oil and Gas, Shell Nigeria, and Nigerian Agip Exploration, and emphasized that the transaction is subject to judicial scrutiny across multiple jurisdictions, including the United States and Italy.

The government expressed concerns over ongoing opposition to the resolution, suggesting that critics may have undisclosed interests. The resolution is expected to unlock significant economic benefits, potentially adding 150,000 barrels per day to Nigeria's oil production.