Nigeria approves Exxon-Seplat deal after more than two years (updated)
21/10/2024 12:47
(Adds context and regulator CEO comment in paragraphs 2-4)
ABUJA, Oct 21 (Reuters) - Nigeria has approved the sale
of Exxon Mobil Corp's XOM.N onshore assets to Seplat Energy
SEPLAT.LG , the chief executive officer of the country's
upstream regulator said on Monday, more than two years after the
$1.28 billion deal was first agreed.
The sale had been under scrutiny as it awaited regulatory
approval since it was first announced in February 2022.
President Bola Tinubu on Oct. 1 said the deal would
receive ministerial approval in a
matter of days
after getting clearance from the regulator.
Nigerian Upstream Petroleum Regulatory Commission (NUPRC)
CEO Gbenga Komolafe said on Monday at an event in the capital
Abuja that the deal was recommended by the regulator and had
received ministerial approval.
(Reporting by Isaac Anyaogu, Ope Adetayo and Camillus Eboh;
Writing by Bhargav Acharya;
Editing by Alexander Winning)
((Bhargav.Acharya@thomsonreuters.com))