Nigerian President Muhammadu Buhari authorized the sale of ExxonMobil's assets on Monday, August 8. These assets will be sold to the local company Seplat Energy.

After a long period of waiting, President Muhammadu Buhari has finally authorized the sale of the shallow water assets held by the American oil major ExxonMobil to the local company Seplat Energy. This decision will allow the company to almost triple its production levels with an additional production plateau of about 95,000 barrels of oil equivalent.

Femi Adesina, special adviser to the Nigerian president, explained that the federal government's about-face is linked to "considerable benefits", thatOnce completed, the operation would generate the country's economy, in an energy context marked by unstable national oil production for several months.