FG Reactions As England Court Delivers Judgement In Favour Of Nigerian Over $10bn P&ID Case



The federal government has hailed the judgement of Business and Property Courts of England and Wales which granted Nigeria’s application for an extension of time and relief over $10bn sanctions.

In a statement released on Friday, September 4, through the Twitter page of the Nigerian presidency, the federal government described the judgement as right and just.

It would be recalled that $10bn sanction was imposed on Nigeria in a case in which Process and Industrious Development Limited (P&ID).

The decision against Nigeria was taken after a controversial gas deal with the engineering and project management company was involved with.

On Friday, the English court granted Nigeria an extension of time and relief on the case, and the federal government has described the verdict as a landmark victory over attempts to cheat Nigeria by the other party involved.
“The Presidency welcomes the judgment by the UK Court granting Nigeria’s application for an extension of time and relief from sanctions in a $10 billion arbitration case with Process and Industrious Development Limited (P&ID) in Nigeria.

“In our view, the judgment is right, just and provides a strong prima facie case that the fraudulent gas deal with P&ID and the subsequent judgment debt of $10 billion against Nigeria was a clear attempt to cheat the country of billions of dollar by a company that had not invested one Naira in our country,” part of the statement read.