By
Olugbenga Ige
Malabu Oil and Gas Limited has challenged the Federal Government’s claim of resolving the long-standing OPL 245 dispute and has issued a pre-action notice challenging any move to implement any agreement.
In a pre-action notice dated March 17, 2026, seen on X and addressed to the Nigerian Upstream Petroleum Regulatory Commission, Malabu warned against any regulatory recognition or implementation of arrangements concerning OPL 245 while multiple suits remain pending in court.
The notice, signed by its counsel, R. O. Atabo, SAN, stated that the company was not involved in any negotiation or settlement process.
The firm said it “was neither consulted nor involved in any negotiation, mediation or settlement process leading to the agreement recently celebrated by government officials.”
The position contradicts claims by the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, who had described the OPL 245 deal as a major breakthrough for Nigeria’s economy.
However, Malabu insisted that its interests in the oil block remain valid and are still being contested in court.
The company stated that its “legal and equitable interests in OPL 245 remain alive and are still the subject of several pending judicial proceedings before competent courts in Nigeria.”
It listed cases currently before the Supreme Court and the Federal High Court in Abuja, including appeals involving Nigeria Agip Exploration Limited and other parties.
Malabu also disclosed that it had filed a separate suit challenging what it described as the wrongful removal of its name from the Corporate Affairs Commission’s register.
Reacting to reports of a settlement involving the Federal Government, Nigeria Agip Exploration Limited, and Shell Nigeria Exploration and Production Company Limited, the firm said it did not consent to any such agreement.
“The majority shareholders and directors of the company were never consulted, were not invited to participate in any negotiation process, and never gave consent or approval to any purported settlement,” the notice stated.
The company warned that it would approach the Federal High Court to challenge the legality of the reported OPL.
It said the planned suit would contest the “legality and validity of the purported OPL 245 Resolution Agreement,” including the restructuring and reallocation of interests in the oil block.
Malabu is also seeking a court declaration that its rights over OPL 245 remain valid and cannot be affected by any agreement it did not sign.
It further asked the court to nullify the alleged agreement, halt any regulatory actions based on it, and restrain all parties from carrying out petroleum operations in the area.
In addition, the company is demanding N1tn in damages, citing what it described as trespass on its rights.
Malabu gave the regulatory commission 30 days to refrain from taking steps to implement the agreement, warning that it would proceed to court if its demands are not met.
Recall that the Federal Government had announced a resolution of the long-running dispute involving OPL 245, describing it as a major breakthrough for Nigeria’s oil sector.
Fagbemi said the resolution of the longstanding legal dispute over OPL 245 is set to reposition Nigeria’s economy and strengthen the federal government’s fiscal capacity.
Speaking shortly after the signing of the legal agreement in Abuja that brought the protracted dispute to a close, Fagbemi described the development as a major milestone in repositioning Nigeria’s economic landscape.
The FG settled with Eni and Nigerian Agip Exploration Limited, effectively ending years of litigation and arbitration over the strategic offshore oil block.
“The agreement marks a turning point for Nigeria’s oil and gas sector after more than two decades of legal battles and international arbitration”, the statement quoted Fagbemi as saying.
Fagbemi emphasised that the resolution will recalibrate the national economy and boost the FG’s fiscal position.
Olugbenga Ige
Olugbenga is a fine-grained journalist with over nine years of experience. He loves the smell of a good lead and has a penchant for finding out interesting good reports.
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