Posted by The case that Nigeria brought against P&ID (Process & Industrial Developments) was successful.
The federal government has spent $11 billion in interest trying to reverse an arbitration verdict in favor of P&ID (case number CL-2019-000752).
A gas processing plant in Calabar, Cross River State, was supposed to be built by the corporation after it said it had agreed to do so with the Nigerian government. However, the contract fell through when the Nigerian government failed to live up to its obligations.
As of today, a London High Court has ruled in Nigeria’s favor.
Details to come…