The renewal of Oil Mining Lease II (OML II) falls squarely within the powers and discretion of the Honourable Minister of Petroleum Resources and the renewal of such lease may be with new terms and conditions. The Appellants have offered to renew the Oil Mining Lease for the Respondent on new terms and conditions. The Respondent refused and failed to accept the offer. The Respondent cannot dictate to the Appellants, the terms and conditions under which the renewal of the lease could be crystallized. The 1st Appellant acted within his powers and in accordance with the Petroleum Act, 2004 earlier referred to. The lower Court greatly erred in law in deciding the questions raised for determination and the reliefs sought against the Appellants.
– OLABISI IGE, JCA. Petroleum Resources v. SPDC (2021)