adsMalabu Oil & Gas Ltd has filed a N1 trillion suit against the Federal Government over the restructuring of Oil Prospecting Licence (OPL) 245, challenging the legality of the asset’s conversion and subsequent division among major oil operators.
In the suit marked FHC/ABJ/CS/871/2026 and filed before the Federal High Court in Abuja, the company is seeking to nullify the government’s decision to convert OPL 245 into Oil Mining Lease (OML) 245 and split it into four operational assets.
The defendants in the suit are President Bola Tinubu, the Attorney-General of the Federation (AGF), and the Minister of Petroleum Resources.
Malabu, through its counsel Reuben Atabo (SAN), argued that the government proceeded with the restructuring despite multiple pending cases on the disputed oil block at the Federal High Court and the Supreme Court.
The company is specifically challenging the OPL 245 Resolution Agreement, reportedly signed around March 5, under which the asset was divided among Shell Nigeria Ultra-Deep Limited, Shell Nigeria Exploration and Production Company Ltd, Nigerian Agip Exploration Company Ltd, and NNPC Limited. Related News 2027: Factional candidates deepen opposition crisis as APC intensifies reconciliation efforts UK backs Nigeria’s global insurance expansion drive We need to promote vigilance, unity, mutual support to defeat criminal elements - Oyo APC Guber Candidate, Alli adsads
