President Bola Ahmed Tinubu meets Femi Otedola, Chairman of FBN Holdings Plc, during his official visit to Abu Dhabi. This meeting takes place amid FBN Holdings’ ongoing legal dispute with General Hydrocarbons Limited (GHL) over a disputed loan agreement.
The conflict stems from a collaboration established while Oba Otudeko was chairman of FBN Holdings. Addressing non-performing debts associated with oil mining lease OML 120 was the goal of the deal. GHL claims that FBN violated important provisions of the agreement, causing losses of over $100 million, including the seizure of a vital drill ship. Arbitration proceedings are ongoing.
The President of Nigeria travels to Abu Dhabi to attend the Abu Dhabi Sustainability Week (ADSW 2025). The summit focuses on fostering global cooperation to drive sustainable development. Tinubu highlights reforms in energy, infrastructure, and economic policy under his administration.
The discussions between BAT and Otedola remain undisclosed, sparking speculation about whether the legal issues involving FBN Holdings were addressed. Tinubu’s broader agenda includes strengthening ties with UAE leadership and promoting Nigeria’s interests on a global stage.
Key Points
- Legal Dispute: FBN Holdings faces significant claims from GHL related to failed agreements.
- Presidential Focus: BAT prioritizes sustainable development and economic reforms during the Abu Dhabi summit.
- Strategic Engagement: The meeting with Otedola adds an intriguing dimension to Tinubu’s visit, with stakeholders eager for updates on its potential outcomes.
As Tinubu continues his diplomatic and business activities in Abu Dhabi, observers watch for more developments.
