President Buhari Approves Seplat Purchase of Exxon's Nigeria Blocks – Bloomberg

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Muhammadu Buhari

Nigerian President Muhammadu Buhari approved Seplat Energy Plc’s $1.28 billion purchase of Exxon Mobil Corp.’s shallow water business in the West African country, seemingly putting an end to efforts by the national oil company to block the deal.
Buhari, who also serves as oil minister, consented to the transaction due to the “extensive benefits” it will bring to Nigeria’s energy sector and larger economy, his spokesman Femi Adesina said in an emailed statement on Monday. The decision clears the way for Seplat to complete an agreement announced in February to acquire four permits from Exxon.


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