President Bola Ahmed Tinubu has announced the successful resolution of the long-standing dispute over Oil Prospecting Licence (OPL) 245, following a settlement agreement between the Federal Government, Eni, and Nigerian Agip Exploration Limited.....KINDLY READ THE FULL STORY HERE▶

The announcement was made during a meeting at the Presidential Villa in Abuja, attended by Eni’s CEO Claudio Descalzi, COO Guido Brusco, Head of Sub-Saharan Region Mario Bello, Managing Director of Nigerian Agip Exploration Fabrizio Bolondi, and the President’s Special Adviser on Energy, Olu Arowolo-Verheijen.

The development was confirmed in a statement by Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga.

According to the presidency, the agreement ends a dispute that has lasted over 15 years, restoring stability to one of Nigeria’s most commercially promising deepwater oil blocks. Signed in Abuja, the settlement clears the way for renewed development activities in the offshore block.

Officials noted that the resolution paves the way for the Final Investment Decision (FID) on the Zabazaba–Etan deepwater project, which is expected to significantly boost Nigeria’s crude oil production. With the dispute settled, the project is projected to add roughly 150,000 barrels of crude oil per day to the nation’s output.

The Zabazaba–Etan development is also anticipated to strengthen Nigeria’s long-term energy outlook and attract further investment into the oil and gas sector. President Tinubu described the settlement as a strategic milestone in his administration’s economic reform agenda.

“This resolution sends a clear signal to global investors that Nigeria is prepared to address legacy issues transparently, uphold the rule of law, and create a stable environment for long-term capital,” Tinubu said.

Commenting on the agreement, Arowolo-Verheijen noted that the settlement represents a significant improvement over the 2011 resolution, reflecting reforms introduced under the Petroleum Industry Act. She emphasized that the revised framework balances investor confidence with enhanced benefits for Nigeria.

“The updated terms provide clarity and predictability for major deepwater investments while ensuring stronger value creation and protections for the Federation,” she added.

The presidency stated that the settlement is part of broader reforms since 2023 aimed at improving Nigeria’s competitiveness in the global energy market. Anchored in the Petroleum Industry Act and supported by executive actions, these reforms have helped attract renewed investor interest and capital inflows into the oil and gas sector.

“By resolving the OPL 245 dispute, the Federal Government has removed a major legacy risk in Nigeria’s upstream sector and reinforced its commitment to predictable regulation and transparent governance,” Arowolo-Verheijen said.

President Tinubu also commended institutions and stakeholders involved in achieving the settlement, including the Office of the Attorney General of the Federation, the Ministry of Petroleum Resources, the Nigerian Upstream Petroleum Regulatory Commission, and NNPC Limited.

The presidency highlighted that the resolution demonstrates the administration’s determination to unlock Nigeria’s strategic energy assets and ensure that the country’s natural resources contribute to economic growth, job creation, and long-term prosperity for Nigerians.

The Osun State chapter of the All Progressives Congress (APC) has announced Benjamin Kayode Adereti as the running mate to its governorship candidate, Asiwaju Munirudeen Bola Oyebamiji (AMBO), for the August 15, 2026 election.....KINDLY READ THE FULL STORY HERE▶

Adereti’s name appeared alongside Oyebamiji’s on the final list of candidates published by the Independent National Electoral Commission (INEC).

Born in Ile-Ife, Adereti is a politician who contested the 2023 House of Representatives election but was defeated by the incumbent representing Ife Federal Constituency, Taofeek Ajilesoro. He is a Christian and a professional engineer.

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has urged the Chairman-elect of Kuje Area Council, Danjuma Shekwolo, to remain accessible to residents and avoid distancing himself from the people after taking office.....KINDLY READ THE FULL STORY HERE▶

Wike gave the advice on Thursday during a “thank you” visit to Kuje following the February 21 Area Council elections in the FCT.

According to the minister, the true test of leadership begins after electoral victory, when the power of office and access to public resources often influence the behavior of elected officials.

“Humility shown during campaigns is often tested once political office and financial influence come into play,” Wike said. “You are humble now, but it is only when you enter office that real humility will be seen. Power and money can change a person in an instant.”

He urged Shekwolo to maintain a strong connection with the constituents who elected him.

“Don’t be a chairman who is always ‘away.’ Be a chairman who is ‘home.’ Don’t run from listening to your people,” he added.

In the February 21 elections, the All Progressives Congress (APC) won five of the six chairmanship positions across the FCT area councils—Abuja Municipal, Abaji, Bwari, Kwali, and Kuje—while the Peoples Democratic Party (PDP) won in Gwagwalada.

Wike also stressed that continued support from his office would depend on the chairman-elect’s closeness to grassroots communities. Leaders who become disconnected from their people risk losing political backing, he warned.

“Working with me, if you are an ‘away’ chairman, you will be in trouble because I will make your people aware that a mistake was made,” he said.

The minister criticized the outgoing council chairman for allegedly withdrawing support for Shekwolo shortly before the election. He claimed that strategic meetings had been held ahead of the polls, but the outgoing chairman became unavailable at a critical moment, leaving Shekwolo politically isolated.

“Had the outgoing chairman supported him as agreed, I might not have intervened as strongly as I did. I saw him as an orphan who had lost hope,” Wike said.

Beyond political guidance, Wike reiterated the Federal Government’s commitment to infrastructure development in the FCT, particularly in Kuje. He conveyed President Bola Tinubu’s appreciation to residents of the area councils for their support during the elections.

Some key projects are already underway. Wike revealed that the Garage Road project has been completed and commissioned, while construction on the Kuje-Gwagwalada road, spanning 16–17 kilometers, is progressing steadily. He expressed hope that the road would be inaugurated by June.

The minister also noted that Arab Contractors had been directed to resume work on the Airport-Kuje road, with completion expected before the third anniversary of the current administration.

Wike emphasized that public office should be treated as a covenant with the people who elect leaders.

“Politics should be a covenant between those elected and those who elected them. It is not a system where our people use us and then we disappear,” he said.