**Tinubu Cracks Long-Standing OPL 245 Puzzle, Paving the Way for Nigeria's Energy Boom** In a major breakthrough, President Bola Tinubu has announced a historic agreement to settle the decades-long dispute over Oil Prospecting Licence (OPL) 245, one of Nigeria's most prized deepwater oil blocks. The deal, which was sealed on Thursday, promises to inject a significant 150,000 barrels per day into the country's production capacity, bolstering Nigeria's energy prospects. For nearly three decades, OPL 245 has lain dormant, hamstrung by corruption and international legal battles. Estimated to hold a staggering 9 billion barrels of crude, the block has been at the centre of a tangled web of disputes between the Federal Government of Nigeria, Shell, Eni, and Malabu Oil and Gas. The controversy has seen court cases unfold in multiple countries, including Nigeria, Italy, the United Kingdom, and the United States. Now, with the agreement in place, the stage is set for the development of OPL 245. Senior representatives from Italian oil giant Eni, including its CEO, Claudio Descalzi, were present at the signing ceremony, along with Olu Arowolo-Verheijen, special adviser to the president on Energy. President Tinubu hailed the agreement as a strategic milestone in Nigeria's economic reform agenda, saying it underscores the administration's commitment to resolving legacy disputes and restoring investor confidence. The deal sends a clear signal to global investors that Nigeria is prepared to tackle legacy issues transparently and create a stable environment for long-term capital. According to Arowolo-Verheijen, the settlement reflects the policy framework of the Petroleum Industry Act (PIA) and the administration's broader fiscal and governance reforms in the energy sector. The revised terms strike a balance between providing investors with the clarity and predictability required to proceed with major deepwater investments and ensuring stronger value accretion and safeguards for the Federation. This development has far-reaching implications for Nigeria's energy sector, which has long been plagued by inefficiencies and corruption. With OPL 245 set to contribute significantly to the country's production capacity, Nigeria is poised to reap the benefits of its vast natural resources. As the president himself noted, this resolution sends a clear signal to investors that Nigeria is open for business and committed to creating a stable environment for long-term capital.