President Bola Ahmed Tinubu has resolved the OPL 245 dispute.

The President had disclosed the successful conclusion of a historic settlement agreement between the Federal Government of Nigeria, ENI, and Nigerian Agip Exploration Limited, NAEL, at a meeting in his office. The meeting was attended by the Chief Executive Officer of Eni, Claudio Descalzi; Chief Operating Officer of Eni, Guido Brusco; Head of Sub-Saharan Region, Mario Bello; Managing Director of Nigerian Agip Exploration, Fabrizio Bolondi; and Special Adviser to the President on Energy, Olu Verheijen.

The agreement brought to an end the long-standing dispute over Oil Prospecting Licence, OPL, 245, paving the way for the development of one of Nigeria's most significant deepwater resources.

The State House, Abuja, in a statement, indicated that the agreement, signed in Abuja, marked the resolution of a dispute spanning over 15 years and restored clarity and stability to an asset widely recognized as one of Nigeria's most commercially promising deepwater blocks.

The statement observed that with the dispute now settled, the pathway is clear for Final Investment Decision on the Zabazaba–Etan development, a project capable of adding approximately 150,000 barrels per day to Nigeria's production capacity and strengthening the country's long-term energy outlook.

President Bola Ahmed Tinubu described the agreement as a strategic milestone in Nigeria's economic reform agenda, reaffirming the administration's commitment to resolving legacy disputes, restoring investor confidence, and ensuring that Nigeria's natural resources deliver sustainable value to the Nigerian people.

President Tinubu commended all institutions and stakeholders who contributed to achieving the settlement, including the Office of the Attorney General of the Federation, the Ministry of Petroleum Resources, the Special Adviser to the President on Energy, the Nigerian Upstream Petroleum Regulatory Commission, NUPRC, NNPC Limited, and the leadership of ENI.

The successful resolution underscores the Tinubu Administration's determination to unlock Nigeria's strategic energy assets, attract responsible investment, and ensure that the nation's resources translate into growth, jobs, and long-term prosperity for Nigerians.