Spin Meets Reality: OPL 245 Dismantles Govt’s Carefully Crafted Victory Story
The Federal Government’s celebration of the alleged resolution of the long-running OPL 245 dispute has suffered a major setback, as Malabu Oil and Gas Limited has issued a formal pre-action notice challenging any regulatory move to implement the controversial agreement. The development casts fresh doubts on official claims that the dispute has been conclusively settled and raises new legal questions over the Federal Government’s recent public declarations on the oil block. In the pre-action notice dated March 17, 2026, and addressed to the Commission Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Malabu, acting through its counsel, warned against any regulatory recognition, approval or implementation of arrangements concerning OPL 245 while several suits over the asset remain pending in court. The letter, written by R. O. Atabo, SAN, LL.D, on behalf of the majority shareholders and directors of Malabu Oil and Gas Limited, stated that the comp...