Nigeria: Etete - Government Did Not Invest a Dime in Malabu Oil

8 February 2017

Abuja — A former Minister for Petroleum Resources, Chief Dan Etete, has disclosed that the federal government did not invest a dime in Malabu Oil and Gas Limited, and is therefore not entitled to share from the proceeds which accrued to the company from settlement of the company's disputes.

Etete, in a response he issued to correct many of the misconceptions surrounding the out-of-court settlement of the dispute in which the company is enmeshed, said those claiming that proceeds from the settlement should go to government were merely being gullible.

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