The Ministry of Petroleum Resources has dispelled claims by the House of Representatives that there are sharp practices in the ongoing renewal of oil and gases leases. The Ministry in a statement signed by Mr Idang Alibi, Director of press, in Abuja, on Friday said the early lease renewal embarked upon by the Ministry was to boost the Federal Government’s earning potential and encourage increased investments by the leaseholders.
“Our attention has been drawn to a publication making the rounds that the House of Representatives said it would investigate the Minister of State for Petroleum Resources, Dr Ibe Kachikwu, over alleged irregularities in the on-going oil and gas lease renewal.
“The report further stated that the House would also probe the involvement of the Department of Petroleum Resources, DPR, on the same matter.
“The Ministry of Petroleum Resources would like to affirm most definitely that there are no irregularities associated with any lease renewal undertaken by the Ministry of Petroleum Resources and particularly, the Department of Petroleum Resources.
“It would be of essence to note that the early lease renewal programme is a process ingeniously developed to expand and speed up earning potential from the renewal programme for the Federal Government.’’
