Nigeria Ends Two-Decade OPL 245 Legal Battle with Eni, Agip

Nigeria’s Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, says the resolution of the long-running dispute over oil block OPL 245 will strengthen the country’s economy and improve its fiscal position.

Fagbemi spoke in Abuja after the signing of a legal agreement that ended the dispute between the federal government and energy companies Eni and Nigerian Agip Exploration Limited.

He described the agreement as a major milestone for Nigeria’s oil and gas sector after more than two decades of legal battles and international arbitration over the lucrative offshore oil block.

According to the Attorney-General, the settlement will remove legal and fiscal uncertainties that previously hindered the development of the asset and pave the way for large-scale investments and job creation.

Fagbemi credited Bola Ahmed Tinubu for providing the leadership and political will required to bring the protracted dispute to an end, noting that the president had earlier directed that the matter be resolved amicably in the interest of Nigerians.

He added that the agreement, which will culminate in a Consent Arbitral Award, is expected to restore investor confidence and strengthen Nigeria’s credibility in international business and arbitration circles.

The Attorney-General said the development also signals Nigeria’s commitment to transparency, the rule of law, and fairness in honouring contractual obligations while positioning the country as an attractive destination for global investment.