The Nigerian Federal Government has established a Legal Audit Committee to prevent a recurrence of issues like the P&ID case by auditing agreements and memoranda of understanding related to Accelerated Gas Development Projects (AGDPs).
Attorney General and Minister of Justice Prince Lateef Fagbemi inaugurated the committee, chaired by Olasupo Shasore. Its members include prominent legal and industry figures such as Mrs. Folashade Alli, SAN; Mr. Tolu Obamuroh; representatives from Olaniwun Ajayi LP (led by Muyiwa Balogun); the General Counsel of NNPCL; NUPRC’s Secretary and Legal Adviser; and Mrs. Memuna Shiru and Mrs. Gladys Odegbaru from the Ministry of Justice.
Fagbemi stated that the committee’s work, set to conclude in three months, will bolster domestic gas growth and safeguard Nigeria’s legal interests internationally.
“We extend our congratulations to Mr. Shasore and the Committee on this important mission, confident that their expertise will strengthen Nigeria’s legal framework for gas development and international business dealings,” Fagbemi said.
He added that the committee will closely review AGDP agreements to avoid potential liabilities and prevent predatory investor activities. Additionally, they will offer legal and commercial guidance for effectively utilizing Nigeria’s gas resources, aligning with the Nigerian Gas Master Plan’s vision of a domestic gas revolution.
Fagbemi noted the recent inauguration of a Committee to Review Bilateral Investment Treaties and the NIPC Act, signifying a new chapter aimed at promoting Nigeria’s economic growth, enhancing international ties, and minimizing liabilities from inactive agreements.
He urged both committees to “collaborate diligently to achieve these goals.”