P&ID Contract Saga: Nigeria Seeks UK Court to Overturn $11bn Debt

P&ID Contract Saga: Nigeria Seeks UK Court to Overturn $11bn Debt (News Central TV)

The Nigerian government has asked a London High Court to deliver judgement in its favour in a case against Process and Industrial Developments Company, P&ID.

In the case marked CL-2019-000752, the government is seeking 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 in Calabar, Cross River State, but the deal collapsed because the Nigerian government did not fulfil its end of the bargain.

Nigeria’s lawyer, Mark Howard, told the court, alleging that P&ID obtained its contract “by telling repeated lies and paying bribes to officials. However, the company maintained innocence and requested that the case be remitted to the original tribunal.

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