Execution of leases of mineral interest is one phrase that has generated concerns between citizens and government especially where it relates to oil and gas. This paper focuses on the owner of mineral interest’s right to execute oil and gas leases especially in Nigeria. The laws governing ownership of mineral rights, licenses, leases and assignment of the mineral rights in Nigeria were x- rayed. The paper shows that holders of mineral rights which include oil exploration license, oil prospecting license, oil mining lease and , oil and gas pipeline license are prohibited from assigning their licenses or leases, or any right, power or interest without the prior consent of the minister of petroleum. Furthermore, it brought to the fore that the Minister of petroleum in Nigeria has broad and discretionary powers to consent or withdraw consent from assignment of oil and gas leases. Consequently the discretionary power of the minister can lead to arbitrarily abuse of power and a review of the law with regards to the powers is the way forward.

Keywords: Petroleum Leases, Transferrability, Contracts, Force Majeure, Mineral Rights.