.. Former AGF Faults Obasanjo’s Handling Of Deal
… Says Nigeria’s Interest Was Sidelined
Grace Adeleye
Former Attorney-General of the Federation, Mohammed Bello Adoke, has alleged that former President Olusegun Obasanjo revoked Oil Prospecting Licence 245 in July 2001 after the oil block’s owners refused to surrender a 60 per cent stake to interests linked to powerful figures within government.
Adoke made the allegation on Tuesday in Abuja during the public presentation of his book, OPL 245: The Inside Story of the $1.3bn Nigerian Oil Block, where he gave fresh details on the political intrigues behind one of Nigeria’s most controversial oil transactions.
OPL 245, one of the country’s most lucrative offshore oil blocks, was originally awarded to Malabu Oil and Gas in 1998 under the military government of the late Gen. Sani Abacha.
Years later, the asset became the subject of international corruption investigations following its sale in 2011 to oil majors Shell and Eni for about $1.1bn, alongside a $210m signature bonus paid to the Federal Government.
Contrary to claims that the licence was revoked due to alleged irregularities in its original allocation or Malabu’s ownership structure, linked to a former Minister of Petroleum Resources, Dan Etete, Adoke insisted that politics and vested interests were at the heart of the decision.
According to him, the revocation was triggered by the refusal of Malabu’s owners to relinquish majority control of the oil block to politically connected individuals.
“Some people in government wanted to acquire 60 per cent stake in OPL 245. Because the owners refused to give up that stake, the licence was revoked,” Adoke said.
He described the struggle over the oil block as a fierce contest among powerful interests desperate to take control of the asset, which he likened to a “dog-eat-dog” battle.
Adoke added that some of the individuals who attempted to buy into the oil block were known associates of former President Obasanjo and former Vice-President Atiku Abubakar.
“I don’t want to ruffle feathers, but those involved were not strangers to power,” he said.
The former AGF, who was prosecuted during the administration of the late President Muhammadu Buhari over his role in the OPL 245 transaction but later discharged and acquitted by two federal high courts in Abuja, said Obasanjo’s action amounted to a grave error of judgment.
“He did not act in the best interest of Nigeria,” Adoke said, accusing the former president of allowing personal and political considerations to override national interest.
He also criticised Obasanjo for previously denying that he approved the return of OPL 245 to Malabu, suggesting that the former president’s stance amounted to selective amnesia.
“He was the one who signed the resolution agreement and approved it. When he denied it publicly and accused me of lying, I released documents the next day showing that he gave the approval,” Adoke stated.
According to him, Obasanjo had promised to apologise if evidence of his approval was produced but failed to do so after the documents were made public.
“He acted irresponsibly and exercised poor judgment. Even after the documents emerged, he refused to apologise to Nigerians and remained silent,” Adoke said.
The former attorney-general said his only demand was an apology from Obasanjo for the damage done to his reputation during the prolonged OPL 245 saga, which spanned multiple court cases in Nigeria and abroad.
The OPL 245 controversy remains one of Nigeria’s most high-profile oil scandals, highlighting the deep power struggles, opacity and governance challenges that have long characterised the management of the nation’s petroleum resources.
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