Fresh controversy has erupted over efforts to revive the sale of a 40 percent stake in the Amukpe–Escravos Pipeline, with a governance expert warning that any attempt to resurrect a previously terminated transaction could damage investor confidence and raise fresh questions about transparency in Nigeria’s oil and gas sector.
In an interview with a local television, Jide Olatuyi, Managing Director of Policy Management Consult Services, said concerns surrounding the transaction extend beyond commercial interests and strike at the heart of governance, transparency, and the credibility of Nigeria’s investment environment.
“The contract was terminated,” Olatuyi said. “What stakeholders are saying is that there is a need for a new competitive bidding process rather than attempting to revive a failed transaction.”
The controversy has intensified amid scrutiny of the asset’s valuation. The earlier transaction involving the 40 percent stake was priced at approximately $243 million before collapsing over unmet contractual obligations. Independent
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