AGF Slams Atiku’s Camp Over OPL 245 Deal, Calls Critics Self-Serving

ABUJA—Nigeria’s Attorney-General of the Federation (AGF), Lateef Fagbemi, SAN, has fired back at critics of the recent OPL 245 oil block resolution, accusing them of chasing personal gain over national progress. In a pointed press release yesterday, Fagbemi dismissed media attacks from the Atiku Abubakar Media Office as “misrepresentations” that ignore a hard-won victory for the country.

The deepwater OPL 245 block—about 150km off Nigeria’s coast and packed with untapped gas and oil riches—has been a legal quagmire since 1998. That’s when it went to Malabu Oil & Gas Ltd, a shadowy firm linked to ex-Petroleum Minister Dan Etete. Revoked in 2001 amid controversy, it landed with Shell Nigeria Ultra-Deep (now SNEPCo) and Eni’s Nigerian Agip Exploration (NAE) in 2002, sparking lawsuits, National Assembly probes, and global scandals.

Fast-forward to 2011: A settlement deal saw Malabu drop claims for cash, paving the way for Shell and Eni to develop the block as joint holders. But delays in converting it to an Oil Mining Lease (OML) triggered fresh battles. Eni and NAE sued Nigeria at the World Bank’s ICSID in 2020 under the Nigeria-Netherlands treaty, seeking over $2 billion in damages for the hold-up. Courtrooms in the US, UK, and Italy poked at the deal’s past—bribery claims swirled around a $1.3 billion payment—but cleared Eni, Shell, and the core transaction.

None of Malabu’s current claimants jumped into that ICSID fight, Fagbemi noted. They lacked standing in a case about Nigeria’s treaty duties, not company ownership squabbles. With arbitration hanging like a sword, President Bola Tinubu’s team stepped in last week to settle—dodging a massive payout and unlocking the block.

Why does this matter? OPL 245 could pump 150,000 barrels per day, per industry estimates, via a floating production vessel tied to Nigeria LNG. That’s a lifeline as national output dips below 1.4 million bpd (OPEC, March 2026), starved by theft, underinvestment, and disputes. The deal promises revenue surges, jobs, and investor trust in a sector battered by years of stasis.

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Fagbemi pointed to fresh court backup: Last year’s Court of Appeal ruling in Nigerian Agip Exploration Ltd v. Malabu Oil & Gas Ltd (2025) 15 NWLR (Pt 2009) 551 tossed Malabu’s bid to reclaim the block as time-barred and frivolous.

Atiku’s team, however, called it a “fire sale,” alleging favoritism. Fagbemi begged to differ: “Those opposed… are pursuing selfish and not patriotic interests.” He urged Nigerians to see through “hidden agendas” that could rob 200 million people of this windfall.

As development ramps up, the AGF’s words echo louder: Will politics stall another national gem, or will pragmatism prevail?