OPL 245: Malabu’s Fresh Lawsuit Raises Concern Over Transparency In Oil Sector – Atiku

Former Vice President Atiku Abubakar has voiced concerns regarding a new lawsuit filed by Malabu Oil and Gas Limited concerning OPL 245, arguing it highlights a lack of transparency in Nigeria’s oil sector. He accuses the Federal Government of misrepresenting the resolution of the long-running dispute as mere “political theatrics,” pointing to ongoing legal proceedings. Atiku criticizes the government for excluding Malabu, a key stakeholder, from negotiations and questions the legality of the “Resolution Agreement.”

He further contends that the current administration exhibits a pattern of prioritizing propaganda over substance and optics over legality, citing concerns about worsening security, increasing debt, and questionable spending, including reports of significant funds allocated to foreign image-laundering. Atiku warns against the potential sale of Nigeria’s Joint Venture assets within NNPC Limited without full transparency and accountability, emphasizing their importance to the nation’s revenue.

Finally, Atiku expresses concern over the relocation of NNPC Upstream Investment Management Services to Lagos at a high rental cost and alleges potential conflicts of interest related to the property owner. He stresses the importance of accountability, transparency, and the rule of law for a thriving democracy and urges vigilance from stakeholders in the oil and gas industry.

(Source：New Telegraph)