BY OUR CORRESPONDENT
Abuja
Fresh controversy has trailed the Federal Government’s claim of resolving the long-standing dispute over OPL 245, as Malabu Oil and Gas Limited has issued a pre-action notice opposing any move to implement the reported agreement.
The development raises questions over official assertions that the matter had been conclusively settled.
In a letter dated March 17, 2026, and addressed to the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Malabu warned against recognising or implementing any arrangement concerning the oil block while multiple cases remain pending in court.
The letter, signed by R.O. Atabo (SAN), stated that the company was neither consulted nor involved in any negotiation or settlement process leading to the agreement recently announced by government officials.
This position contradicts claims by the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, who had described the deal as a breakthrough capable of boosting Nigeria’s economy.
Malabu, however, maintained that its legal interests in OPL 245 remain valid and are still subject to ongoing judicial proceedings before competent courts.
The company listed several cases, including appeals before the Supreme Court, Malabu Oil and Gas Limited v Nigeria Agip Exploration Limited & 5 Ors (SC/ML/356/2025) and Malabu Oil and Gas Limited & 2 Ors v Kweku Amafagha & 9 Ors (SC/CV/959/2025).
It also cited pending suits at the Federal High Court, Abuja, including FHC/ABJ/CS/201/2017 and FHC/ABJ/CS/206/2017, as well as a separate case challenging its alleged removal from the Corporate Affairs Commission register.
Malabu said it became aware of public statements suggesting that the Federal Government had reached a resolution with Nigeria Agip Exploration Limited and Shell Nigeria Exploration and Production Company Limited around March 5, 2026.
But the company insisted that its majority shareholders and directors neither participated in nor approved any such arrangement.
It warned that it would approach the Federal High Court in Abuja to challenge the legality of the reported agreement, including the restructuring and reallocation of interests in the oil block.
The proposed suit will list the Federal Republic of Nigeria, the Attorney-General of the Federation, the Minister of Petroleum Resources, Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration and Production Company Limited, Nigerian Agip Exploration Company Limited, and Nigerian National Petroleum Company Limited as defendants.
Malabu is contesting the reported execution of a “Block 245 Resolution Agreement” at the Presidential Villa, Abuja, as well as the alleged division of the oil block and allocation of interests to oil firms.
Among its reliefs, the company is asking the court to declare that its rights over OPL 245 remain valid and cannot be overridden by any agreement to which it was not a party.
It is also seeking to nullify the alleged agreement, restrain all parties from acting on it, and stop any petroleum operations in the disputed area.
In addition, Malabu is demanding N1 trillion in damages for what it described as trespass on its rights.
The company gave the NUPRC 30 days to refrain from taking any action on the disputed arrangement or face legal action.
