Abuja, March 5, 2026 — President Bola Ahmed Tinubu has announced the successful resolution of the long-running dispute over Oil Prospecting Licence (OPL) 245 between the Federal Government of Nigeria, Eni, and Nigerian Agip Exploration Limited.
The settlement agreement was signed in Abuja during a meeting attended by senior government officials and executives of the Italian energy giant, including its Chief Executive Officer, Claudio Descalzi.
According to the presidency, the agreement brings an end to years of legal and commercial disputes surrounding OPL 245, one of Nigeria’s most valuable deepwater oil blocks. The resolution is expected to pave the way for renewed investment in the country’s oil and gas sector.
Officials said the settlement clears the path for the Final Investment Decision (FID) on the Zabazaba–Etan deepwater development project. Once operational, the project is projected to add approximately 150,000 barrels per day to Nigeria’s crude oil production capacity.
Speaking during the meeting, President Bola Ahmed Tinubu described the agreement as a major step toward strengthening investor confidence in Nigeria’s energy industry and unlocking new opportunities for economic growth.
Industry analysts note that resolving the dispute could help accelerate offshore development projects and boost Nigeria’s oil output at a time when the government is seeking to increase production and attract foreign investment.
The Zabazaba–Etan project is considered one of the largest untapped deepwater developments in Nigeria and is expected to play a significant role in expanding the country’s long-term energy capacity.
