The OPL 245 oil block, located approximately at the depths of about 2000 meters, offshore, has an estimated reserve of about 9 billion barrels of crude oil, representing about one quarter of Nigeria’s oil reserve and unspecified amount of gas reserves.
In his book titled “OPL 245: The Inside Story of The $1.3b Nigerian Oil Block” released on Thursday, Mohammed Adoke, Nigeria’s former Minister of Justice and Attorney General of the Federation, who served under former President Goodluck Jonathan, from 2010 to 2015, narrated how former President Olusegun Obasanjo’s decision to revoke the oil block “set the Nigerian oil and gas industry on the path of crisis that would eventually hamper the country’s oil production.”
Adoke stated the book that “if he had not been untidy, in the way he revoked the licence, OPL 245 would by now have increased Nigeria’s oil production significantly
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“He created the OPL245 mess, worsened the risk of investing in Nigeria, set the country on the avoidable course that further tarnished its image abroad and, above all, refused to take responsibility for his actions”
The Royal Dutch Shell and ENI SPA were alleged to have paid a total of $1.3b United States Dollars, out of which $1.1b was allegedly channelled through middlemen.
The deal attracted global attention over the allegations of fraud and bribery, seen as one of the “biggest corporate scandals.”
Adoke recalled how former President Obasanjo, in 2017, in the heat of the legal battle, denied his involvement while commenting on his 2006 Settlement Agreement.
“In an interview with Premium Times, he described the award of the oil block to Malabu as the ‘height of corruption’ which he could not have endorsed. He was quoted to have stating that “Adoke and others should not drag me into a matter I know nothing about. If they have been asked to answer questions about decisions they took while in office, they should do that honourably. They should not bring Obasanjo into an Etete deal. I was not part of any such deal. If I hold that view, I could not have approved a deal with Dan Etete. What Etete did is the height of corruption.
“He appropriated the asset to himself illegally, illegitimately and immorally. I can’t remember giving approval that the block be given back to Etete. We gave it back to Malabu? On what ground? Do you have any such evidence? Ask Bayo Ojo and Edmund Daukoru what really happened because the stand I took at the time was unassailable. If Daukoru has evidence that I approved that the block be given back to Malabu or Etete, let him produce it. If it is proven that I indeed approved the deal, I will be willing to apologise to Nigerians,” he said.
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Adoke said the Buhari Administration seized on this dishonest denial to “strengthen its case and sharpen its knives against me? But Obasanjo was blatantly lying. The letter showing his approval, in his handwriting, surfaced on the pages of newspapers a few days after the publication of his ill-advised interview. Evidence shows that Obasanjo approved the Settlement Agreement every step of the way. He was fully aware of Etete’s involvement.
“Rather than keep his word by holding up his hand and apologising to Nigerians when the proof went public, Obasanjo simply went quiet in his usual self-righteous manner. Premium Times also went mute despite seeing the evidence. That was not honourable. If Obasanjo had come out to say, ‘Yes, I approved the return of OPL 245 to Malabu, it would have made a world of difference. That is leadership. He failed himself. Premium Times failed in its journalism, although that was understandable since the newspaper was part of the larger agenda of criminalising the OPL 245 Resolution Agreements.
“I will now go on to highlight the facts as they pertain to Obasanjo’s approval.
“When Malabu filed a lawsuit to challenge the revocation of OPL 245, the Federal Government engaged the services of the law firm of Babalakin & Co. Malabu’s case was thrown out on technical grounds by a Federal High Court sitting in Abuja.
“The court ruled that it was filed out of time.
Malabu appealed. On 23 August 2006, Babalakin & Co. wrote to Chief Bayo Ojo SAN, then AGF, to express fears that Malabu had a good case based on a precedent and the Federal Government was likely to lose the case on appeal and incur more costs.”
Read also: OPL 245: Adoke wins again!
Adoke also revealed how on August 28, 2006, Bayo Ojo, the then Minister of Justice, wrote to Edmond Daukoru, the Minister of State for Petroleum, to seek an out-of-court settlement based on the legal advice.
This was followed by Daukoru’s letter to former President Obasanjo, on 3rd October, 2006, proposing “out of court settlement.
“In the Presidential green ink below the letter, Obasanjo wrote: Minister of State, Approved.”
According to Adoke, “He signed off as OO.”
