FG files appeal challenging High Court verdict on $55m debt recovery suit against Agip Oil, Brasoil

The Federal Government has filed a Notice of Appeal, challenging the decision of a Federal High Court in Lagos, which dismissed a 55 million debt recovery suit it filed against Nigeria Agip Oil Company Ltd, and Brasoil over undeclared oil revenue.

Just hours earlier, Justice Mojisola Olatoregun of the high court had dismissed the suit on the ground that the Federal Government failed to furnish the court with sufficient evidence in proof of the case.

The suit which was filed since 2016 is one among several other suits by the FG, seeking to recover almost $12 billion in missing crude oil revenue from some international oil companies.

FG accused Agip of under-declaring the volume of crude oil it shipped out of the country between January 2011 and December 2014.

Government is claiming 55 million dollars against Agip, in missing oil revenue, and claiming the sum of 4.8 million dollars against Brasoil in similar circumstances.

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Also, FG had asked the court to compel the oil firm to pay the said sum, with an annual interest rate of 21 percent. It says the sums represent shortfalls in the amount of excess crude oil lifted out of Nigeria.

In the case of Agip, the High court held that the plaintiff ought to provide sufficient evidence to show that the defendant actually lifted excess 500,000 barrels of crude oil, in order to entitle it to the reliefs sought.

Similarly, in the case against Brasoil, the court also held that the burden rests on the plaintiff to prove and show requisite evidences, in pursuit of its case, adding that it failed to establish same.

On that premise, the court dismissed the plaintiff’s suits.

However, FG has through its counsel, filed a Notice of Appeal challenging the entire court’s decision on several grounds.

No date has been fixed for hearing of the Appeal filed today.

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