J. A. FABIYI, JSC (Delivering the Leading Judgment): The 1st respondent felt unhappy with the manner in which the 2nd respondent acquired 50% of its interest in Oil Mining lease (OML) 127. After serving the appropriate notice of intention to commence legal proceedings on the 2nd respondent, the 1st respondent filed an Originating Summon at the Federal High Court in which it sought for the determination of the following questions:-
"1. A declaration that the President, Vice-President or Officers in the Public Service of the Federation CANNOT grant any Oil Prospecting Licence (OPL) or any interest whatsoever in respect of any 'mineral oils and natural gas in, under or upon the territorial waters and Executive Economic Zone of Nigeria' to any person or persons except under and in accordance with the provisions of the Petroleum Act CAP P. 10 of the laws of the Federal Republic of Nigeria, more especially 2 section 2(1) (a) (b) and (c) as well as section 2(3).
2. A declaration that by virt…