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Attorney General of the Federation and Minister of Justice, Lateef Fagbemi (SAN), has inaugurated a committee to audit agreements and Memoranda of Understanding (MoU) related to Nigeria’s Accelerated Gas Development Projects (AGDPs).
According to Fagbemi, the committee, chaired by Mr Olasupo Shasore (SAN), is tasked with a critical mission of guiding the government to avoid a repeat of the nation’s most unpleasant experience in the P&ID case, which originated from one of such AGDPs.
Media aide to attorney general, Kamarudeen Ogundele, quoted his principal as saying: “The committee will keenly review the AGDP Agreements with a view to ensuring avoidance of potential landmines or other forms of liability and achieving a final closure against predatory investors.
“The committee’s assignment will also provide proper legal and commercial guidance that will enable the government to effectively harness the nation’s huge gas resources in line with the Nigerian Gas Master Plan to promote domestic gas revolution.”
Earlier, Fagbemi inaugurated a committee for the review of Bilateral Investment Treaties and Nigerian Investment Promotion Commission Act. The AGF explained that the inauguration of the committees marked a new chapter in efforts to promote Nigeria’s economic prosperity, strengthen international partnerships, and remove all potential avenues of liability from moribund or non-performing agreements.
Responding on behalf of the committee, Shashore, who noted that the task was onerous, promised that they would discharge their duties with patriotism.
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