To prevent a repeat of the P&ID incident, Nigeria’s Federal Government has set up a Legal Audit Committee to review agreements and MOUs on Accelerated Gas Development Projects (AGDPs).
The committee was inaugurated by Attorney General and Minister of Justice Prince Lateef Fagbemi, with Olasupo Shasore as chairman. Its members are seasoned legal and industry experts, including Mrs. Folashade Alli, SAN; Mr. Tolu Obamuroh; Olaniwun Ajayi LP (represented by Muyiwa Balogun); NNPCL’s General Counsel; the NUPRC Secretary and Legal Adviser; and two directors from the Ministry of Justice, Mrs. Memuna Shiru and Mrs. Gladys Odegbaru.
According to Fagbemi, the committee’s work, scheduled for completion in three months, will promote Nigeria’s gas development and secure the nation’s legal standing globally.
“We congratulate Mr. Shasore and the entire team, confident in their ability to strengthen Nigeria’s legal foundation for gas projects and international partnerships,” Fagbemi remarked.
The committee will examine AGDP agreements to identify and eliminate potential liabilities, preventing any predatory investor activity. They will also offer legal and commercial insights to help the government leverage Nigeria’s substantial gas reserves per the Nigerian Gas Master Plan.
Fagbemi, who also inaugurated a Committee for Reviewing Bilateral Investment Treaties and the NIPC Act, described these steps as pivotal in advancing Nigeria’s economic stability, fostering global alliances, and ensuring Nigeria remains appealing to credible investors.
He encouraged the committees to “work in unison toward these strategic objectives.”