NewsExxon Mobil Shares: Akwa Ibom Govt Faults Buhari’s Approval, Warns Against Contempt...

Exxon Mobil Shares: Akwa Ibom Govt Faults Buhari’s Approval, Warns Against Contempt Of Court


August 10, (THEWILL) – The Akwa Ibom State Government has faulted President Muhammadu Buhari’s approval for the acquisition of Exxon Mobil Shares by Seplat Energy.

THEWILL reported that President Buhari had on Monday, given approval to the acquisition of the shares by Seplat Energy Offshore Limited, in his capacity as Minister of Petroleum Resources.

According to a statement by Special Adviser to the President on Media and Publicity, Femi Adesina, the consent was in consonance with the country’s drive for Foreign Direct Investment (FDI) in the energy sector.


But reacting to the President’s approval, the Akwa Ibom State Government, through Uko Udom (SAN), the state attorney general and commissioner for justice, issued a caveat warning the public that the “proposed transaction is subject to restraining orders of injunction of the High Court of Akwa Ibom State, sitting in Uyo in Suits No. HEK/56/2018, ATTORNEY GENERAL OF AKWA IBOM STATE V. MOBIL PRODUCING NIGERIA UNLIMITED and HU/209/2020, MOBIL PRODUCING NIGERIA UNLIMITED V. GOVERNOR OF AKWA IBOM STATE & 3 OTHERS. ExxonMobil, Seplat Energy, NNPC Ltd and the Federal Government of Nigeria, all have actual knowledge of the court orders, having been duly served with the orders and/or various newspaper publications of same.”

Udom added that the “Executive interference with the judicial process of a court of competent jurisdiction is sad and ill-advised and is contemptuous of the High Court of Akwa Ibom State. The State urges the Nigerian Upstream Petroleum Regulatory Commission to take the above facts into consideration as it considers its position in this matter.

“Take notice, therefore, that anyone who deals with the shares or assets of Mobil Producing Nigeria Unlimited during the subsistence of the said orders and in the pendency of the above suits, does so at their own risk. Let the buyer beware.”


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