Fresh concerns have emerged over plans to sell a 40 per cent stake in the Amukpe–Escravos Pipeline, with stakeholders urging the Federal Government to suspend the process over valuation disputes.
Critics of the proposed transaction warned that selling the asset below its current market value could weaken investor confidence and short-change the country.
The pipeline, which connects Amukpe in Delta State to the Escravos export terminal in Warri, is jointly owned by Pan Ocean Oil Corporation and NNPC Exploration & Production Limited. It has become a major crude evacuation route in the western Niger Delta since operations began in 2022.
Reports indicated that the planned divestment is linked to debt restructuring arrangements involving lenders and asset managers, with proceeds from the sale expected to settle outstanding obligations.
However, controversy has continued to trail the process following claims that valuation figures from an earlier failed transaction were being reconsidered despite more recent assessments placing the value of the stake much higher.
Public affairs analyst, Prof. Okey Ikechukwu, called for an immediate suspension of the sale, arguing that disposing of a strategic national asset without a fresh independent valuation would undermine transparency and due process.
Speaking during an interview on Arise TV, Ikechukwu said Nigeria was not under pressure to dispose of a valuable and performing infrastructure asset at what he described as a giveaway price.
He warned that proceeding with the transaction under disputed valuation terms could damage investor confidence and raise concerns among lenders about governance standards in the country’s oil and gas industry.
According to him, the issue goes beyond pricing and touches on institutional credibility and adherence to established commercial procedures.
Ikechukwu urged the government to halt all ongoing steps connected to the sale and conduct a new valuation process to ensure the country receives fair value for the asset.
Meanwhile, United States-based energy consultant, Chukwuma Atuanya, said the Amukpe–Escravos Pipeline has significantly improved crude transportation and export reliability since it became operational.
He added that the underground pipeline system has maintained strong operational performance and offers security advantages by bypassing several vulnerable areas in the Niger Delta.
