Business

Court dismisses Chinese oil company’s bid to void $100 million judgement over OPL 471 dispute

Published

1 month ago

May 8, 2026

Preport

WhatsApp Image 2026 05 08 at 16.39.07.jpeg

A Federal High Court in Port Harcourt, Rivers State, has dismissed an application by China National Petroleum Corporation seeking to set aside a $100 million judgement awarded to Cutra International Limited over the disputed ownership of Oil Prospecting Licence (OPL) 471.

OPL 471 is located in the shallow offshore, western Niger Delta of Nigeria

In a ruling delivered on 24 April, Justice Adamu Mohammed held that the Chinese oil firm failed to show sufficient grounds for the court to vacate its earlier judgement delivered on 23 May 2025.

The judge dismissed the application entirely, ruling that the court had become “functus officio” after delivering its judgement and finding that the originating summons and hearing notices had been properly served on the company.

The dispute arose from the award of OPL 471 by Nigeria’s Ministry of Petroleum Resources to both companies in June 2006.

In the substantive judgement delivered last year, the court held that Cutra International was entitled to a 10 per cent equity participation in the oil block as the local content vehicle in the deal.

Mr Mohammed said the Chinese firm did not controvert the facts presented by the plaintiff regarding the award of the oil block and the company’s stake in it.

“By that letter, the plaintiff was the local content vehicle for OPL 471, and the equity participation for the plaintiff is 10 per cent,” the judge held.

Although the court declined to grant Cutra International the full amount of its claims due to insufficient evidence supporting certain claimed expenses and damages, it awarded the company $100 million in damages against CNPC.

In its application to set aside the judgement, CNPC argued that the suit was statute-barred, the originating summons had expired, and that the substituted service ordered by the court was defective because it involved a foreign company.

However, Mr Mohammed rejected the arguments, noting that the court had earlier renewed the originating summons in May 2024.

The judge also held that CNPC failed to establish any convention between Nigeria and its home country that would render Order 6, Rule 20, of the Federal High Court Rules applicable in the matter.

“Based on the foregoing decisions of this court, I am of the view that it will not be in the interest of justice to grant any of the reliefs sought in the instant application, and it is accordingly dismissed,” the judge ruled.

Related Topics:bid Chinese companys Court dismisses dispute judgement million oil OPL void

Up Next

ALFRED DAPAL DAMIYAL (ADD): AN EXPERIENCED CONTENDER FOR PLATEAU 2027

Don't Miss

Truecaller slashes 70 jobs amid declining ad sales

Click to comment

Business

FG debunks claims of plans to introduce telecoms, fuel taxes

Published

8 hours ago

June 18, 2026

Preport

The Federal Government has dismissed reports suggesting it plans to introduce new taxes on telecommunications services and petroleum products, saying the claims are false and misleading.

The Federal Ministry of Finance disclosed this on Wednesday in a statement signed by Maryann Duke, senior special assistant on communications and press secretary to the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele.

It said the reports, which linked the proposed taxes to the International Monetary Fund (IMF) Article IV Consultation on Nigeria, do not reflect its position.

According to the government, the recommendations contained in the IMF report are advisory and do not constitute policy decisions or binding actions for Nigeria.

“The Federal Government is not considering the introduction of any new taxes on telecommunications services or petroleum products,” the statement said.

Fuel tax rules remain unchanged.

The government also clarified that existing tax arrangements on petroleum products remain in place.

It said the Value Added Tax (VAT) waiver on fuel has not been removed and is still active.

It also explained that any fuel surcharge can only take effect through a ministerial order published in the Official Gazette, adding that no such action is being considered.

According to the statement, the current arrangements have helped cushion the impact of global fuel price changes on Nigerian households and businesses.

Telecoms excise duty

On telecommunications, the government said the excise duty introduced before 2023 has already been repealed under the new tax laws.

It added that the tax is, therefore, no longer in force.

The ministry urged Nigerians, media organisations and businesses to disregard claims about new telecoms and fuel taxes.

It said Nigeria’s tax policy remains focused on improving revenue collection, supporting economic growth, and attracting investment, rather than increasing the tax burden on citizens.

The ministry added that any future tax changes would be communicated through official channels and implemented strictly in line with due process.

Business

Supreme Court Upholds APP’s Registration, Ends Deregistration Battle Ahead of 2027 Elections

Published

16 hours ago

June 17, 2026

Preport

BY NKECHI NAECHE-ESEZOBOR—The Supreme Court has brought an end to the legal dispute over the status of the Action Peoples Party (APP), affirming that the party remains duly registered and eligible to take part in the 2027 general elections.

The apex court struck out Appeal No. SC/CV/248/2026 after the appellant, Mr Blessing Elujiuba, voluntarily withdrew the case, bringing the challenge to a close.

This decision leaves intact earlier judgments delivered by both the Federal High Court and the Court of Appeal, which had upheld the party’s legal recognition.

The ruling was delivered on May 12, 2026, by a five-member panel of the Supreme Court led by Justice John Inyang Okoro, who noted that the matter was withdrawn without objection from other parties.

The court subsequently dismissed the appeal following its withdrawal, formally ending the proceedings at the apex level of the judiciary.

The case involved the Independent National Electoral Commission (INEC), the Action Peoples Party (APP), and the party’s National Chairman, Uche Kingsley Nnadi.

The initial legal action had sought to force INEC to remove APP from its register on the allegation that it failed to meet constitutional requirements under Section 225A of the 1999 Constitution.

However, earlier rulings had found that APP met the necessary legal conditions for continued registration, citing evidence of electoral participation and victories at local government level.

The courts also upheld the interpretation that fulfilling any of the conditions outlined in Section 225A is sufficient for a political party to retain its registration status.

With all tiers of the judiciary aligned in its favour, APP’s legal standing remains intact, clearing the party to continue preparations for the 2027 elections without any outstanding court challenge.

The post Supreme Court Upholds APP’s Registration, Ends Deregistration Battle Ahead of 2027 Elections appeared first on Business Today NG.