From Victor Osula, Abuja
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, has inaugurated a high-level committee tasked with auditing agreements and Memoranda of Understanding related to Nigeria’s Accelerated Gas Development Projects.
This move aims to safeguard Nigeria from potential liabilities, like those seen in the costly P&ID case, which stemmed from similar agreements.
The committee, chaired by former Attorney General of Lagos State, Olasupo Shasore, SAN, is charged with reviewing AGDP agreements to identify and address legal vulnerabilities that could expose Nigeria to risks.
Other notable members include Mrs. Folashade Alli, SAN; Mr. Tolu Obamuroh; Muyiwa Balogun, representing Olaniwun Ajayi; NNPC’s General Counsel and Company Secretary; the Secretary and Legal Adviser of the Nigerian Upstream Petroleum Regulatory Commission; Mrs. Memuna Shiru, Director of Civil Litigation and Public Law; and Mrs. Gladys Odegbaru, Director of the Solicitors Department.
The AGF media aide, Kamarudeen Ogundele, conveyed Fagbemi’s emphasis on the committee’s role in ensuring the agreements are legally sound and aligned with Nigeria’s broader goal to harness its vast gas reserves as part of the Nigerian Gas Master Plan.
He said, “The committee will keenly review the AGDP agreements, seeking to avoid potential landmines and other liabilities while securing Nigeria’s gas resources against predatory investors. Their work will lay the foundation for a robust domestic gas revolution.”
The committee has a three-month mandate to complete its review.
Also, Fagbemi inaugurated another committee to reassess Nigeria’s Bilateral Investment Treaties and the Nigerian Investment Promotion Commission Act.
He described the committee’s mandate as crucial for strengthening Nigeria’s economic foundation, enhancing international investment partnerships, and removing risks associated with non-performing agreements.
Shasore, responding on behalf of the committee, acknowledged the significant responsibility and assured that they would approach the task with diligence and patriotism.
