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NNPC Withdraws Suit Challenging ExxonMobil’s $1.28 billion asset divestment to Seplat

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The Nigerian National Petroleum Company Limited (NNPC) has filed a motion in the High Court of the Federal Capital Territory, Abuja, seeking to discontinue its ongoing legal action against several subsidiaries of Mobil Nigeria and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

The motion was filed on 11th of June, 2024 and is part of a broader effort to finalize a settlement agreement involving the divestment of 100% interest in Mobil Producing Nigeria Unlimited (MPNU) to Seplat Energy Offshore Limited.

This application by NNPC which was presented by their legal counsel Afe Babalola & Co., requests the court to grant leave for discontinuance and to strike out the suit, with the provision to relist it should the settlement process fail.

The initial suit which was filed on July 5, 2022, was referred to arbitration by the court on August 3, 2022. However, recent negotiations led to a decision to settle the dispute out of court.

According to the motion, one of the conditions stipulated in the Settlement Agreement requires NNPC to withdraw the suit to facilitate the settlement.

In his affidavit, Isaika Popoola, a litigation manager at Afe Babalola & Co., detailed the history of the case, the arbitration process, and the terms of the settlement agreement.

Popoola disclosed that the parties had held several meetings to resolve the dispute concerning the divestment of MPNU shares to Seplat.

The agreement includes clauses to align the interests of all parties involved and finalize the transaction.

The motion highlights the court’s role in encouraging dispute resolution through arbitration, conciliation, and mediation, in line with Order 19 Rule 1 of the High Court’s rules.

NNPC’s legal team stressed that the discontinuance is necessary to complete the settlement process and that the application complies with Order 24 of the High Court of the Federal Capital Territory Civil Procedure Rules 2018.

Legal precedents cited in the motion include the Supreme Court decision in Adama v. Maigari (2019), which supports the relisting of a discontinued suit if the out-of-court settlement fails. This ensures that NNPC retains the right to seek judicial recourse should the settlement not be concluded successfully.

“The applicant humbly urges Your Lordship to grant leave to discontinue this suit and consequently strike it off the court’s cause list,” 

“Granting this application aligns with the policy of this Honourable Court and facilitates the finalization of the settlement process.” the motion states.

NNPC’s counsel argues that the discontinuance is in the interest of justice and promotes an efficient resolution without prolonged litigation.

The motion also requests the court to strike out the suit without costs, underscoring the parties’ commitment to an amicable settlement.

The court is now tasked with considering the motion, which, if granted, would mark a significant step towards resolving the longstanding dispute between NNPC, the Mobil subsidiaries, and NUPRC, enabling the parties to focus on finalizing the settlement and the divestment transaction.

 

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Pastor Ogundipe Decries Lack of Integrity Among Educated Nigerians

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By Samson Adeyanju

Pastor Alex Ogundipe, Chairman of the Governing Board of Christian Heritage International Bible College, Kubwa, Abuja, has expressed concern over the growing number of educated Nigerians who lack the character and integrity required to make meaningful contributions to society.

Ogundipe raised the concern during the matriculation ceremony of the institution’s 60 pioneer students, stressing that academic qualifications without moral discipline and upright character could undermine national development.

According to him, Nigeria has many knowledgeable and academically accomplished individuals whose inability to demonstrate integrity has negatively affected their contributions to their families, workplaces and communities.

“We have too many people in this country who are knowledgeable and wise in their own ways, but they do not have character and integrity. That affects their ability to impact their communities,” he said.

The cleric emphasised that education must go beyond the acquisition of certificates to the development of individuals who demonstrate honesty, accountability, faithfulness and commitment to serving humanity.

He explained that true integrity required consistency in personal conduct, whether at home, in the church, at work or within the larger society.

Ogundipe said the college was established not merely to impart biblical knowledge but to raise men and women whose lifestyles reflect Christian values and whose contributions would positively influence society.

He urged Christian leaders to demonstrate their faith through practical actions rather than mere religious declarations.

Speaking on Nigeria’s future, the cleric encouraged citizens to remain hopeful, pray for the country and contribute meaningfully to national peace, unity and development.

Earlier, the Rector of the institution, Pastor Samson Olukayode Aliyu, challenged the matriculating students to prioritise spiritual maturity and moral discipline alongside academic excellence.

Aliyu warned against examination malpractice, plagiarism, dishonesty and other forms of misconduct, stressing that academic certificates could demonstrate knowledge but could not substitute for good character.

“The Church does not only need gifted people; it needs godly people. We need leaders who will choose integrity over compromise, humility over pride, faithfulness over convenience and service over self-interest,” he declared.

He explained that the college offers six-month certificate programmes in theology and one-year diploma programmes in theology, leadership and prophetic studies.

One of the matriculating students, Akeem Omobolanle, who enrolled in the Diploma in Leadership programme, commended the institution’s approach to biblical education and expressed optimism that the training would strengthen his understanding of the Scriptures and prepare him for greater service in Christian ministry.

The ceremony marked the formal admission of the college’s pioneer students into its academic community.

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Economy

Private Capital Critical To Nigeria’s Industrial Future -Omoyele

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By Samson Adeyanju 

Private capital will be critical to Nigeria’s industrial future as the country seeks to address infrastructure gaps, improve energy supply and strengthen economic productivity, Bayonle Omoyele has said.

Omoyele, a PhD student and guest speaker at the Abuja Economic Dialogue organised by the Faculty of Management Sciences, Nile University of Nigeria, Abuja, said the discussion would examine Nigeria’s economic situation and trade outlook in simple, everyday language.

The dialogue, scheduled for October 6, 2026, has as its theme, “Powering the Next Economy: Energy, Infrastructure & the Private Capital Imperative for Nigeria’s Industrial Future.”

Omoyele said the dialogue would also examine why people in the informal sector and at the bottom of the economic pyramid continue to struggle despite various microeconomic and macroeconomic policies.

He said the discussion would interrogate the gap between economic policies and their impact on the daily lives and businesses of ordinary Nigerians.

A major focus will be the role of private investment in addressing energy and infrastructure challenges affecting productive activities and industrial development.

The dialogue is also expected to examine how Nigeria can create conditions that encourage private capital to flow into productive sectors while expanding economic opportunities for businesses and individuals in the informal sector.

The discussion will further consider Nigeria’s trade outlook and the structural issues affecting the country’s prospects for sustainable and inclusive economic growth.

The event is scheduled to hold from 10 a.m. to 12 noon at the Block A, second-floor Conference Hall, Nile University of Nigeria, Abuja.

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Judiciary

Chamber Commissioning: Every Empire Will Expire, Akintola Tells Nigerian Leaders

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By Samson Adeyanju

A Senior Advocate of Nigeria, Chief Adeniyi Akintola, has cautioned Nigerian leaders and public office holders against abusing power, stressing that no position of authority or political influence is permanent.

Akintola gave the warning at the commissioning of Dayo Ajibola & Associates, also known as SBA Chambers, where he urged those in positions of authority to remain humble, remember their roots and prepare for life after office.

“Every empire will expire. Let those who are holding public office get this into their heads. Every empire will expire. Every person in a position of authority will come to a time when he will no longer be relevant,” he said.

The legal practitioner also warned politicians against sacrificing people for political interests, urging professionals who interact with political leaders to be cautious and maintain clear boundaries between their principles and political relationships.

He said money should not be allowed to determine a person’s values or professional decisions, urging young lawyers to resist the temptation of seeking immediate financial rewards.

According to him, younger lawyers should focus on building credibility, relationships and professional competence rather than demanding large fees from every client.

“The younger generation lawyers are making the mistake of wanting that money now, now, now. It doesn’t work that way,” Akintola said.

He advised lawyers to carefully assess the clients they represent and avoid fraudulent individuals and activities.

“We have a standard in our office. No room for 419,” he said, stressing that professional reputation remained more valuable than short term financial gains.

Akintola further urged young professionals not to live beyond their means, saying proper financial planning was necessary for sustainable careers and businesses.

He explained that his law office makes provisions for the maintenance and replacement of office equipment, noting that professionals must plan for unforeseen expenses instead of spending all their earnings.

“If you take good care of your job, your job will take good care of you,” he said.

The Senior Advocate also emphasised discipline and commitment to legal practice, particularly punctuality and diligence in handling clients’ briefs.

“The court will not wait for you. You should be in court latest by 8:30. The client that gives you a brief is not waiting for stories. He wants results,” he said.

Akintola urged senior lawyers to continue mentoring younger practitioners and advised employees to remain loyal and committed to their employers.

He also encouraged the new generation to remain prayerful, disciplined and patient, saying genuine professional success is built over time.

Speaking at the occasion, Senator Abdulfatai Buhari, representing Oyo North Senatorial District, commended Akintola for his commitment to mentoring younger professionals.

Buhari, who said he had adjusted his international travel plans to attend the event, congratulated Dayo Ajibola on the commissioning of the chambers.

He said the presence of senior practitioners and other distinguished personalities at the event demonstrated the respect Akintola had earned through his character and professional relationships.

Buhari urged Akintola to remain focused despite betrayal, blackmail and disappointment, saying the growth of people he had mentored should give him satisfaction.

“People will still continue to betray. People will continue to blackmail. People will continue to misbehave, but just be happy that the people you are training are coming up, and you are seeing them growing,” he said.

In his vote of thanks, Barrister Dayo Ajibola, principal of the newly commissioned chambers, expressed appreciation to Akintola, senior lawyers, public officials, friends and other guests for honouring the occasion.

Ajibola, who became emotional while recounting some of the challenges he had overcome, attributed his survival and progress in life to God’s protection, prayers and the support of family, mentors and friends.

He disclosed that he had obtained bachelor’s and master’s degrees before returning to study law, describing his journey into the legal profession as one marked by several challenges and near tragedies.

Ajibola thanked Akintola for his mentorship and described his presence at the commissioning as a significant honour.

He also expressed appreciation to the senior members of the legal profession who attended the ceremony, saying their support had encouraged him to continue building the new law firm.

The commissioning marked a significant milestone for Dayo Ajibola & Associates and brought together members of the legal profession, political figures, friends and associates.

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