P&ID: Nigeria govt wants UK court to overturn $11bn judgement debt

P&ID: Nigeria govt wants UK court to overturn bn judgement debt


The Nigerian government has asked a London High Court to deliver judgement in its favour in the controversial Process and Industrial Developments (P&ID) gas deal.

The government in closing arguments at a trial earlier in the week urged the court to overturn an arbitration award in favour of P&ID which has now accrued interest worth $11 billion.

The company claimed it entered into an agreement with Nigeria to build a gas processing plant but the deal collapsed because the Nigerian government did not fulfil its end of the bargain.

But Nigeria’s lawyer, Mark Howard, told the court that P&ID obtained its contract “by telling repeated lies and paying bribes to officials.”

Mr Howard alleged that the company financially induced top Nigerian government officials including those who chaired the government technical committee that reviewed the gas plant contract and several others.

He alleged also that lawyers in the Nigerian team during the arbitration proceedings were…

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P&ID: Nigeria govt wants UK court to overturn $11bn judgement debt

 

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