OPL 245: FG $1.1billion London Suit Ill Advised, Waste Of Time And Attempt To Derailed Huge FD

Group call on President Buhari to give assent or Presidential approval to the ENI Zabazaba Project, an investment capable of creating million of Jobs and increased Production as part of Govt 2019 Projections.

The Citizens Communication and Advocacy Centre and Partners for Petroleum & Energy Sector Best Practice Initiative, at a joint World Press Conference, on Dec.24, also has call on the Federal Government, through the office of AGF to discontinue with $1.1billion Suit and other Suits in Nigeria to allow for the development of the Prolific OPL 245 asset for the benefit of Nigeria.

Speaking during the Press briefing, ED, Lord Charles Ibiang, says the current suit is a waste of time, recall the Resolution Agreements of 2011, between FG, Shell, ENI, and Malabu Oil ltd lasted for over 18 years, while the Oil block was fallow without investment or Oil production, yet Litigation Cost/Mediation was a huge drain on Govt coffers running into hundreds of millions of Dollars. 

Our position is that this renew Suit is an attempt by certain Cabal to waste tax payers monies, a scheme corruptly design to enriched some Lawyers through Litigation Cost and travelling expenses.

The Energy groups, condemn the act of corruption by any individuals or Organizations, which it agrees was pervasive in many sectors in the Country and must be confronted head long.

However, says the OPL 245 litigation are protracted and should stop. This unending litigation is not benefiting the Country, hence worrisome. 

The current huge Investment and development of the Zabazaba/Etan Project should be given Presidential Approval, so that Final Investment Decision can be reached. 

This Govt as part of her 2019 projections wants to increase Foreign Direct Investment in the Petroleum Sector, Productions, generate Employment, create Jobs and Power. This is her Signature Project to achieve all.

As a Civil Society Organizations, we believe the issues challenging our Country with a Youthful Population are clear, Unemployment, we can't afford to be pursing Rats, while our house is on fire.

We are going ahead with this public and media Campaign extensively until reason prevail.

Thanks.

Lord Charles Ibiang 

Business Strategy Practitioner,

Former Delegate, National Conference 2014 (Member, Energy Committee),

Chairman, 

Partners for Petroleum & Energy Sector best practice Initiative, and

Executive Director,

Citizens Communication and Advocacy Centre, Abuja.

08038661020

Charles.ibiang@ yahoo.co.uk