The Legal Audit Committee on Associated Gas Development Projects and Arbitration Matters has formally presented its final report to the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi.
Chaired by Senior Advocate of Nigeria and legal expert Olasupo Shasore, the committee was tasked with reviewing key agreements and memoranda of understanding linked to Nigeria’s push for accelerated gas development.
In a statement dated 14 May 2025, but released to the press on Thursday, Shasorew, a senior partner at the African Law Practice NG & Co disclosed that the committee had worked diligently since its inauguration in November 2024.
Their work included aligning legacy contracts with the Nigerian Gas Master Plan and identifying commercial risks that have historically left Nigeria vulnerable.
At the formal presentation held at the Ministry of Justice in Abuja, Shasore described the report as a detailed roadmap for future gas deals—one that highlights past missteps while offering bold reforms to prevent costly disputes.
“This report offers not just a review but a strategic rethink.
“Nigeria must adopt structured risk assessments in its international contracts. We’ve paid the price for oversight before; it’s time to change the narrative,” he said.
Among the committee’s key recommendations is the establishment of a legal risk matrix to preempt disputes and enhance Nigeria’s negotiating strength in high-stakes transactions.
The report also advocates institutional reforms in contract management and dispute resolution, especially in sectors heavily exposed to foreign investment.
“The committee didn’t just review past arbitrations. We examined how previous oversights translated into major financial liabilities—and, more importantly, how to avoid them going forward,” Shasore added.
While receiving the report, the Attorney-General commended the committee’s commitment, describing their work as a significant step towards fortifying Nigeria’s legal and economic defences in the global gas market.
“This report provides a blueprint for strengthening our contractual frameworks and will guide future engagements,” Fagbemi stated.
