A UK court has ruled in Nigeria’s favour in its case against Process & Industrial Developments (P&ID) Ltd.
In a ruling on Monday, the Business and Property Court in London agreed that the process through which P&ID secured a 2010 contract to build a gas processing plant in Calabar, Cross River State, was fraudulent.
“The awards were obtained by fraud,” Robin Knowles said while delivering judgement.
Nigeria had been in court with P&ID for several years since the company accused the Nigerian government of botching the deal by failing to provide gas to them.
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In 2017, a tribunal ruled that Nigeria should pay the company $6.6 billion as damages and pay an interest of 7 percent.
Nigeria did not do this, and instead appealed the judgement. As of last week, the judgement sum had risen to $11 billion due to accrued interests.
Nigeria’s argument was that the gas deal P&ID was laying claim to was obtained through bribes to government officials.
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