President Bola Tinubu has applauded the judgment rendered by Robin Knowles, the judge of the Business and Property Court in London, awarding a landmark victory to the Federal Government of Nigeria over a firm known as Process & Industry Development (P&ID) Limited.
Nigeria, on Monday, won its bid to overturn a $11.5 billion damages bill involving the controversial P&ID deal.
In a statement by his media aide, Ajuri Ngelale, on Monday, Mr Tinubu commended the UK court for prioritising the merit of the case above all other considerations.
The statement said, “Following Mr Knowles’ dismissal of the $11.5 billion value of the award plus accumulated interest, previously won by P&ID over a failed 2010 deal to allegedly build a gas processing plant, on the grounds that the award was obtained by fraud, President Tinubu commends the UK Court for prioritising the merits of the case above all other considerations.