The Federal Government has appointed Olasupo Shasore, SAN, as the Chair of the newly established Legal Audit Committee tasked with overseeing Agreements and Memorandums of Understanding (MOUs) for Accelerated Gas Development Projects (AGDPs) and other high-profile commercial arbitration matters.
The committee, inaugurated by the Attorney-General of the Federation, Prince Lateef Fagbemi, SAN, on November 8, 2024, is mandated to ensure that Nigeria’s gas resources are safeguarded and managed with strategic oversight.
This high-level Committee’s role includes reviewing concluded high-profile arbitration cases involving Nigeria, with the objective of identifying factors that may have led to the nation’s exposure in such disputes. The findings will enable the Committee to make informed recommendations to mitigate future risks, aligning AGDP agreements with the Nigerian Gas Master Plan and reinforcing protections in Nigeria’s international gas-related contracts and disputes.
Joining Mr. Shasore, SAN, on the Committee are distinguished legal and industry experts, including:
* Mrs. Folashade Alli, SAN, C.ARB of Folashade Alli & Associates
* Mr. Tolu Obamuroh of White & Case
* Muyiwa Balogun of Olaniwun Ajayi LP
* Senior representatives from the Nigerian Upstream Petroleum Regulatory Commission (NURPC)
* Officials from NNPCL and the Federal Ministry of Justice
Prince Lateef Fagbemi, SAN, praised the formation of the Committee, highlighting its critical role in strengthening Nigeria’s legal and strategic position in high-stakes arbitration and gas development agreements. The Committee’s work is set to advance domestic gas growth while ensuring Nigeria’s legal interests are firmly upheld on the global stage.
“We congratulate Mr. Shasore, SAN, and the entire Committee on this important assignment, confident that their expertise will contribute to a fortified legal framework for Nigeria’s gas development projects and international commercial engagements,” said Prince Lateef Fagbemi, SAN.