Renewed efforts to revive the previously terminated sale of a 40 per cent stake in the Amukpe–Escravos Pipeline have triggered fresh scrutiny of transparency and governance practices in Nigeria’s oil and gas sector, with a policy expert warning that the handling of the transaction could influence investor confidence at a time when the country is competing aggressively for scarce global energy capital.
Speaking on Channels Television on Thursday, June 11, 2026, Managing Director of Policy Management Consult Services, Jide Olatuyi, said concerns surrounding the transaction extend beyond commercial interests and strike at the heart of governance, transparency, and the credibility of Nigeria’s investment environment.
“The contract was terminated,” Olatuyi said. “What stakeholders are saying is that there is a need for a new competitive bidding process rather than attempting to revive a failed transaction.”
The controversy has intensified amid scrutiny of the asset’s valuation. The earlier transaction involving the 40 per cent stake was priced at approximately $243 million before collapsing over unmet contractual obligations. Independent assessments conducted in 2025 reportedly valued the same stake at between $544 million and $641 million.
