Nigerian President Reverses Approval Of Seplat Energy, Mobil Producing Oil Deal

President Muhammadu Buhari authorised the acquisition of ExxonMobil Corporation assets by Seplat Energy Plc but has made a U-turn on the deal. <br />Presidential spokesperson, Garba Shehu says President Buhari had reversed his authorisation, choosing to support the position of the NUPRC. <br />He says the confusion trailing the deal was due to the non-coordination among the various agencies of government involved. In May, the commission declined to approve the proposed acquisition due to what it described as overriding national interest. <br />Seplat Energy in a corporate filing says it followed due process in the acquisition of the assets.