The resolution of the longstanding legal dispute over OPL 245 is set to reposition Nigeria’s economy and strengthen the federal government’s fiscal capacity, the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, has said.

A statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, on Sunday, noted that Fagbemi attributed the breakthrough to the visionary leadership of President Bola Tinubu.

Speaking shortly after the signing of the legal agreement in Abuja that brought the protracted dispute to a close, Fagbemi described the development as a major milestone in repositioning Nigeria’s economic landscape.

The FG settled with Eni and Nigerian Agip Exploration Limited, effectively ending years of litigation and arbitration over the strategic offshore oil block.

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“The agreement marks a turning point for Nigeria’s oil and gas sector after more than two decades of legal battles and international arbitration”, the statement quoted Fagbemi as saying.

Fagbemi emphasised that the resolution will recalibrate the national economy and boost the FG’s fiscal position.

According to him, early in the administration, Tinubu directed that all disputes over the oil block be resolved amicably in the best interests of the Nigerian people.