[NEWS] SENATE TO PROBE OIL AND GAS LEASE RENEWAL

THE SENATE HAS RESOLVED TO INVESTIGATE THE ONGOING OIL AND GAS LEASE RENEWAL BEING UNDERTAKEN BY THE MINISTER OF STATE FOR PETROLEUM RESOURCES, IBE KACHIKWU, AND THE DEPARTMENT OF PETROLEUM RESOURCES (DPR).
THE LAWMAKERS TOOK THE DECISION ON WEDNESDAY FOLLOWING A MOTION SPONSORED BY SENATOR OMOTAYO ALASOADURA AT PLENARY IN THE RED CHAMBER OF THE NATIONAL ASSEMBLY IN ABUJA.
SENATOR ALASOADURA ACCUSED THE MINISTER AND THE DPR OF PERPETUATING IRREGULARITIES CAPABLE OF DENYING THE GOVERNMENT REVENUE IN EXCESS OF $10 BILLION, AS A RESULT OF ALLEGED ILLEGAL DISCOUNTS AND REBATES IN THE PROCESS OF LEASE RENEWAL.