• Super Admin
• 07 Mar, 2026

The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has welcomed the successful resolution of the long-standing dispute surrounding OPL 245, describing it as a major step towards strengthening investor confidence and unlocking the full potential of one of Nigeria's strategic offshore assets. The dispute was resolved through a settlement agreement involving the Federal Government of Nigeria, Eni, and Nigerian Agip Exploration Limited, paving the way for renewed investment and the accelerated development of the asset. In a statement by Nneamaka Okafor, the special adviser, media and communication to the Minister of State for Petroleum Resources (Oil), Senator Lokpobiri, particularly commended the leadership and foresight of President Bola Ahmed Tinubu for approving the process that ultimately brought the protracted dispute to an amicable conclusion. "This resolution reflects the commitment of the administration of President Bola Ahmed Tinubu (GCFR) to addressing long-standing legacy issues in the oil and gas sector and creating a stable and predictable environment that inspires investor confidence," the minister stated. Senator Lokpobiri, who signed the agreements on behalf of Nigeria alongside the Attorney-General of the Federation and Minister of Justice, praised the constructive engagement and cooperation demonstrated by all parties throughout the negotiation process. He noted that the peaceful resolution reflected Nigeria's commitment to transparency, clarity and regulatory stability in the petroleum sector. "This settlement sends a strong message to the global investment community that Nigeria is prepared to resolve legacy issues transparently while sustaining an investment-friendly environment for long-term capital," the minister said. Source: https://dailytrust.com/lokpobiri-hails-resolution-of-opl-245-dispute/