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Failure of Oil, Gas Sector Reason for Poverty, Hunger in the Country, Says Agbakoba, Threatens to Sue FG
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A former President of the Nigerian Bar Association (NBA), Olisa Agbakoba (SAN), has threatened to drag the Federal Government to court to determine the constitutionality of continuing outsourcing of oil and gas management to International Oil Companies (IOCs) through Joint Ventures (JVs) and Production Sharing Contracts (PSCs).
Agbakoba also called for a complete overhaul of Nigeria’s oil and gas sector, insisting that the current system has ‘completely failed’ and is responsible for poverty and hunger across the country.
The human rights lawyers, who stated this at a press conference in Lagos, argued that the current Contract Oil model directly contradicts Sections 16 and 44(3) of the Nigerian Constitution.
He maintained that the law mandates the government to manage Nigeria’s natural resources in a manner that secures the maximum welfare, freedom, and happiness of every citizen and that the current arrangement, which primarily benefits IOCs, falls far short of this constitutional requirement.
Agbakoba also stated that it is a fundamental principle of administrative law that statutory bodies, including the government, can not delegate their core functions without express legal authorisation. Without such express authority, the current arrangements may be ultra vires and potentially void.
The lawyer said, “These responsibilities, fundamental to the nation’s sovereignty and economic well-being, may be inherently governmental and thus incapable of being lawfully delegated to private entities. Furthermore, it is dubious whether the federal government has the authority to delegate the inherent rights of Nigerians to their natural resources to third parties.
“While the federal government is reluctant to consider shared or joint ownership with state governments, who represent Nigerians more directly, it sees no issue in delegating, outsourcing, and sharing joint ownership with IOCs. This inconsistency raises questions about the government’s interpretation and application of its constitutional mandate.
“We will approach the court to declare that the PIA, the current legal framework for the continued outsourcing or unlawful delegation of the management of Nigeria’s oil and gas to IOCs, is unconstitutional.
“The dominance of IOCs in the sector has historically limited opportunities for developing local content and building domestic capacity in the oil and gas industry,” he said.
Agbakoba also said that the current system of JVs and PSCs, which was initially justified by a lack of funds, now appears to violate the inherent rights of Nigerians over their natural resources.
He stated that if the country adopts a “Development Oil” approach, it can reclaim control over its vital oil and gas sector and transform it into a powerful engine for national development.
The senior lawyer insisted that this paradigm shift requires bold policy changes, including securitising oil reserves through a Sovereign Oil Fund, allowing Nigeria to finance its oil and gas operations.
He said, “The current exit of IOCs presents both a challenge and an opportunity for new Nigerian actors in the oil and gas sector. In collaboration with the federal government, these actors must rise to the occasion and build a new strategy for oil and gas exploration based on development oil principles.
“By aligning the oil and gas sector with broader national interests and constitutional obligations, Nigeria can create a more diversified, resilient, and prosperous economy that truly benefits all its citizens. This approach not only promises economic growth but also reaffirms Nigeria’s sovereignty over its natural resources, ensuring that they are managed for the welfare and security of all Nigerians, as mandated by the constitution,” Agbakoba stated.
Leadership
The African Democratic Congress (ADC) presidential candidate, Atiku Abubakar, has pledged to restore fuel subsidy, improve security and create employment if elected president in 2027.
Atiku made the pledge on Thursday during a campaign rally in Kebbi State, where he called on voters to support the ADC, describing it as the only party committed to addressing the three issues.
“The people of Kebbi State, let me ask you a few questions. Do you want the return of subsidy? Do you want security? Do you want employment? Therefore you have no option other than the ADC. ADC is the only political party that is committed to these three objectives and more to bring about prosperity, unity and peace to the people of our country,” he said.
The former Vice President and his running mate also criticised some projects being presented as achievements of the President Bola Tinubu administration, describing them as legacies of the late President Muhammadu Buhari.
Supporters of the ADC gathered at the party’s secretariat in Birnin Kebbi to welcome Atiku and other party chieftains ahead of the rally.
Speaking at the event, the Director-General of the ADC Presidential Campaign Council, Senator Austin Akobundu, commended party faithful for what he described as their resistance to intimidation by the state government.
Akobundu said the 2027 general elections would be a referendum between suffering Nigerians and the Federal Government under President Tinubu.
The ADC National Chairman, in his remarks, described the party as a moving train that no amount of intimidation could stop.
He called on the people of Kebbi State to vote for Atiku as president, Abubakar Malami as governor and other ADC candidates in the 2027 general elections.
The rally ended with the ADC National Chairman formally presenting the party’s flag to Malami as the party’s governorship candidate for the 2027 election.
The campaign in Kebbi came hours after a Federal High Court in Abuja nullified the leadership of the Senator David Mark-led ADC and voided the actions taken by the party’s executives, including the process that produced Atiku as its presidential candidate.
Justice Peter Lifu delivered the judgment in a suit filed by Nafiu Bala Gombe, a former National Deputy Chairman of the party, who challenged the emergence of the Mark-led leadership.
Atiku rejected the ruling, describing it as an attempt to weaken his political support and frustrate his campaign. He said he would challenge the judgment at the Court of Appeal.
The ADC also rejected the decision, accusing the ruling All Progressives Congress (APC) of attempting to cripple the opposition and vowing to challenge the judgment through all available judicial processes.
The Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has condemned Thursday’s court judgment purporting to remove Senator David Mark’s leadership of the party, describing it as a calculated attempt to weaken the ADC and frustrate his candidacy.
In a statement issued by Phrank Shaibu, Director of Strategic Communication of the ADC Presidential Campaign Council, Atiku said the timing of the judgment was telling. It came barely a day after a mammoth crowd turned out in Sokoto to welcome him and attend the launch of the ADC campaign.
“The people of Sokoto came out in their thousands because they are hungry for change and believe in our promise to make life affordable again. What we witnessed in Sokoto is only the beginning. The people of Kebbi will have their say, and so will Nigerians across the country as our campaign moves forward.
“My roots are in Northern Nigeria, but my candidacy belongs to all Nigerians. There is a difference between being from the North and being a candidate only for the North. Hunger and hardship do not respect regional boundaries. Nigerians across the country are suffering under this government, and they deserve a leader with a credible plan to make life affordable again.
“The timing of this judgment is no coincidence. It is part of a strategy to weaken my support in the North and frustrate a campaign whose message is resonating across the country. But the ruling party’s greatest miscalculation is to assume that my support ends in the North. What we saw in Sokoto, what we will see in Kebbi and across the country, is the strength of a national movement.”
Atiku said the judgment also raises serious legal concerns.
“Justice Musa Liman of the same Federal High Court had already dismissed the challenge to the David Mark-led leadership in Suit No. FHC/ABJ/CS/1637/2025. The court upheld the defendants’ objections on jurisdiction, standing and the failure to exhaust internal party remedies, and resolved the substantive issues in their favour. Why, after that judgment, was another case filed to reopen the same dispute? This is a calculated attempt to circumvent a subsisting judgment. We will challenge this judicial manoeuvre at the Court of Appeal.”
Atiku urged ADC supporters to remain calm and law-abiding and not to let the judgment weaken the momentum generated in Sokoto. The campaign train is already in Kebbi and will continue across the country.
“Our journey to rescue Nigeria from the hardship imposed by the APC government is a long one. Our Affordable Life campaign will continue because Nigerians deserve relief from this crushing cost-of-living crisis. We urge our supporters to remain resolute, take our message from house to house and door to door, and stay peaceful and focused. There is no shaking.”
President Bola Tinubu has requested the Senate to approve the implementation of an external borrowing plan of $7.7 billion.
At an exchange rate of N1,400 to the dollar, the money amounts to about N10.79 trillion
The President said the funds are to part-finance the N20.2 trillion budget deficit.
The new request, according to the Senate President, replaces the $20.52 billion loan request presented last week.
The request has been referred to the Committee on Local and Foreign Debts for further legislative action.
