Self-Interest, Not Patriotism Driving OPL 245 Opposition – FG

The Federal Government has accused critics of the OPL 245 settlement of acting out of self-interest rather than patriotism, insisting that the agreement was reached in the best interest of Nigeria and aimed at resolving a long-standing legal dispute that had hindered investment in the oil sector.

Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), stated this during a briefing in Abuja, where he defended the government’s decision to discontinue certain international arbitration proceedings linked to the controversial oil block.

According to him, the government carefully reviewed the legal and financial implications before deciding on the settlement, noting that prolonged litigation would have exposed Nigeria to huge liabilities and discouraged potential investors.

He said the opposition to the agreement was being driven by individuals and groups who had personal or political interests in keeping the dispute alive.

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The OPL 245 case has remained one of the most contentious issues in Nigeria’s oil industry for years, involving multiple court cases in different jurisdictions and allegations of corruption linked to the original allocation of the oil block.

Fagbemi explained that the present administration inherited the dispute and had to take a pragmatic decision to protect the country’s economic interests.

He stressed that the settlement does not amount to a concession of wrongdoing by Nigeria but rather a strategic move to end costly legal battles and restore investor confidence in the petroleum sector.

The minister also assured that the government remains committed to transparency and accountability in the management of the nation’s natural resources.

He noted that resolving the dispute would allow the government to focus on increasing oil production and attracting fresh investment into the energy sector, which is critical to funding national development projects.

Industry analysts say the OPL 245 issue has discouraged major investors for years, contributing to delays in exploration and revenue losses.

The Federal Government called on Nigerians to support efforts aimed at stabilizing the economy, warning that unnecessary controversies could undermine ongoing reforms.

Officials added that the administration would continue to pursue policies that protect national interests while ensuring Nigeria remains an attractive destination for global investment.