The Atiku Media Office has noted with concern the latest development in the long-running OPL 245 dispute, which it said has again exposed the Federal Government’s premature and misleading claims of a “final resolution” as nothing more than political theatrics.

It said the pre-action notice issued by Malabu Oil and Gas Limited, through its counsel, Chief R. O. Atabo, SAN, LL.D, has punctured what it called the carefully constructed narrative of victory being peddled by the Attorney-General of the Federation, Mr. Lateef Fagbemi.

The media office said contrary to official pronouncements, it is now clear that the matter is far from resolved and remains the subject of multiple subsisting legal proceedings, including cases before the Supreme Court and the Federal High Court.

It said even more troubling was the revelation that Malabu — a principal stakeholder with longstanding legal and equitable interests in OPL 245 — was neither consulted nor involved in any purported negotiation or settlement process.

This, it added, raises fundamental questions about the legality, transparency, and integrity of the so-called “Resolution Agreement” reportedly executed at the Presidential Villa.

The media office added that the OPL 245 controversy is not just about an oil block but emblematic of a larger governance crisis — where due process is treated as optional, where legal disputes are repackaged as political victories, and where national assets are handled with troubling opacity.

It stressed that a government that sidelines critical stakeholders, disregards pending judicial processes, and proceeds to celebrate a disputed agreement demonstrates not strength, but recklessness.

The unfolding OPL 245 saga, it added, is a stark reminder that no amount of propaganda can substitute for due process, stressing that “No declaration can override the courts. And no government can outspin the truth indefinitely. History will take note. But more importantly, the Nigerian people are watching — and they will not be deceived.”

While reiterating that democracy thrived on accountability, transparency, and respect for the rule of law, it said any government that undermines these principles undermined the very foundation of the Republic.

It said the Nigerian people deserved a government that tells the truth, an oil and gas sector governed by transparency — not secrecy, economic management rooted in discipline — not reckless borrowing and opaque spending, as well as security that protects lives — not assurances that ring hollow.

The statement read, “This development is not an isolated incident. It fits into a broader and disturbing pattern that has come to define the Tinubu administration — a pattern of governance driven more by propaganda than by substance, more by optics than by legality, and more by expediency than by national interest.

“For nearly three years, Nigerians have been inundated with grand claims of economic recovery and institutional reform. Yet, the lived reality tells a different story: deepening economic hardship, worsening insecurity, and growing distrust in public institutions.

“Nowhere is this contradiction more evident than in the oil and gas sector.

“We are alarmed by credible reports suggesting a planned sale of up to 30 percent of Nigeria’s Joint Venture assets under NNPC Limited. These assets are not mere commercial instruments; they are strategic national holdings — the backbone of Nigeria’s revenue architecture. Any attempt to dispose of them without full transparency, competitive valuation, and public accountability would amount to the quiet auctioning of Nigeria’s future.

“We call on PENGASSAN, NUPENG, and all stakeholders in the oil and gas industry to remain vigilant. The Nigerian people must not be shortchanged through opaque transactions carried out under the cover of reform.

“Equally concerning are reports surrounding the relocation of NNPC Upstream Investment Management Services back to Lagos at an alleged annual rental cost exceeding ?9 billion. At a time when Nigeria is grappling with an unprecedented debt servicing burden — rising from nearly ?7 trillion in 2023 to about ?16 trillion — such expenditure raises serious questions about fiscal discipline and priority setting.

“Even more disturbing are allegations, yet to be credibly refuted, that the property in question may be linked to interests associated with the President’s family. In public service, perception matters. Silence in the face of such weighty allegations only deepens suspicion and erodes public trust. This is how institutions are weakened — not always by overt illegality, but by a steady erosion of transparency, accountability, and ethical governance.”

On March 8, the Attorney-General of the Federation and Minister of Justice said that resolving the longstanding dispute over OPL 245 will reposition the economy and strengthen the country’s fiscal muscle.

He spoke after the signing of the legal agreement that was said to have brought the dispute to an end in Abuja and described the development as a milestone in repositioning Nigeria’s economic landscape.

“The agreement marks a turning point for Nigeria’s oil and gas sector after more than two decades of legal battles and international arbitration,” he said in a statement released by Bayo Onanuga, Special Adviser to President Bola Ahmed Tinubu on Information and Strategy.

The statement said the federal government reached this settlement with Eni and Nigerian Agip Exploration Limited (NAEL), effectively ending the protracted dispute over OPL 245.

Fagbemi emphasised that resolving the dispute over OPL 245 will recalibrate the national economy and bolster the federal government’s fiscal position.

According to him, early in the administration, President Tinubu directed that all disputes over the oil block be resolved amicably in the best interests of the Nigerian people.

“The clear vision and deep commitment of President Tinubu provided the political will required to bring closure to this protracted dispute. The agreement demonstrates Nigeria’s commitment to transparency, accountability, and the rule of law.”

The Attorney-General explained that the settlement, which will culminate in a Consent Arbitral Award, not only resolves a complex international dispute but also restores Nigeria’s credibility as a responsible partner in global business.

He added that resolving the dispute through negotiated settlement rather than prolonged arbitration underscores Nigeria’s commitment to alternative dispute resolution and enhances the country’s credibility in international commercial and arbitration circles.

“This settlement sends a clear signal to the global community that Nigeria is open for business and committed to fairness and respect for contractual obligations,” he said.

The Attorney-General also commended key institutions and stakeholders that contributed to the successful resolution, including the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission, Nigerian National Petroleum Company Limited, the Economic and Financial Crimes Commission, and international partners such as Eni and Shell.

He emphasised that the settlement represents the triumph of dialogue over conflict and national interest over narrow considerations.

“With this agreement, Nigeria can now move forward with confidence, ensuring that the development of OPL 245 becomes a source of prosperity for the nation and future generations,” Fagbemi stated. (Nigerian Tribune)