Lateef Fagbemi, Nigeria's Attorney General and Minister of Justice, expressed that the resolution of a 15-year dispute regarding oil block OPL 245 will have a substantial positive impact on Nigeria's economy. The Attorney General praised President Bola Tinubu’s leadership, stating that it was instrumental in facilitating this breakthrough. He addressed the media after a legal agreement was signed to formally settle the dispute, highlighting it as a significant milestone in revamping Nigeria's economic structure.

The finalized agreement between Nigeria's federal government and oil giants Eni and Nigerian Agip Exploration Limited (NAEL) represents the end of a lengthy legal battle that has spanned over two decades, which included numerous international arbitration proceedings. Fagbemi underscored that this resolution not only marks a turning point in the oil and gas sector but also aims to enhance Nigeria's fiscal strength and economic stability.

By settling this long-standing issue, Nigerian officials believe that OPL 245 can now contribute effectively to the nation's economic landscape, potentially attracting foreign investment and promoting growth in the oil sector. The resolution is seen as a critical step toward recalibrating Nigeria’s economy, which has been challenged by various obstacles over the years.