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Nigeria: British Court Dismisses P&ID $11 Billion Damages Against Nigeria
Premium Times, 22 December 2023
P&ID had little or nothing to show as track record of work executed in the gas sector to merit a project of that scale. Read more »
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Nigeria: Avoiding Another P&ID Debacle for Nigeria
Daily Trust, 22 December 2023
The current administration of Bola Ahmed Tinubu, has made promises to bring more foreign investments into Nigeria. The president has been travelling the world to attract foreign… Read more »
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Nigeria: P&ID's $11.5 Billion Case - Pacifying the Villains and Neglecting the Heroes
Premium Times, 1 November 2023
The list of grand and egregious heists perpetrated against Nigeria and her citizens is probably a lot longer that we think or imagine. We await the new Attorney-General to do the… Read more »
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Nigeria: Prosecute Nigerians Linked to Failed P&ID Scam
Daily Trust, 30 October 2023
The judge of the Commercial Court of England & Wales, Justice Robin Knowles, last week saved Nigeria from becoming a victim of a monumental financial scam to the tune of $11… Read more »
UK Court Rejects $11 Billion P&ID Damages Claim Against Nigeria
Nigeria dodged a $11 billion bullet after London's High Court threw out a damages claim stemming from a tainted gas deal.
British Virgin Islands company, Process & Industrial Developments (P&ID), had threatened Nigeria with a hefty fine, alleging breach of contract. However, the court found that P&ID bribed a Nigerian oil official and hid it during arbitration, rendering the deal null and void.
The judge swiftly nullified the damages award, rejecting P&ID's appeal for another go at arbitration. Though a direct appeal to the Court of Appeal remains a possibility, Nigeria appears to have escaped this costly saga.
InFocus
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Nigeria has won its appeal to overturn a U.S.$11 billion damages bill in a controversial gas deal with Process & Industrial Developments (P&ID) in London. Nigeria Read more »
