The Federal Government has defended the resolution of disputes surrounding the OPL 245 oil block, describing it as a landmark achievement and dismissing criticisms from the media office of former Vice President Atiku Abubakar.

In a statement, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, said recent claims misrepresented the government’s efforts to resolve a decades-long dispute over one of Nigeria’s most valuable oil assets.

He traced the history of the block, originally awarded to Malabu Oil & Gas in 1998 before a series of revocations, reallocations, and legal battles involving major oil firms and the Federal Government.

According to the AGF, the disputes were addressed through a 2011 resolution agreement involving Malabu, Shell and Eni-linked entities, which later underwent judicial scrutiny in multiple jurisdictions, including the United States, United Kingdom, and Italy, without findings of wrongdoing against the companies.

Fagbemi noted that Nigeria later faced arbitration at the International Centre for Settlement of Investment Disputes (ICSID), where it risked liabilities exceeding $2 billion over delays in converting the oil block into an Oil Mining Lease.

He said the Tinubu administration’s intervention helped avert financial exposure and unlock the economic potential of the asset, which is projected to produce about 150,000 barrels of oil per day.

The minister emphasised that the resolution would boost government revenue, enhance energy security, and improve investor confidence, adding that OPL 245 had remained undeveloped for decades due to persistent legal disputes.

Citing a recent Court of Appeal ruling, he said challenges against the allocation of the block had been dismissed, reinforcing the legality of the current arrangement.

Fagbemi criticised continued opposition to the deal, suggesting it was driven by vested interests rather than national interest, and urged Nigerians to support efforts aimed at unlocking the country’s economic potential.