Nigeria has asked the London court to deliver judgement in its favour, seeking the court to overturn an arbitration award in favour of P&ID which has accrued interest estimated at about $11 billion.
In the case that has lingered for years, P&ID claimed it entered into an agreement with Nigeria to build a gas processing plant in Calabar in Nigeria’s South-South region but the deal did not see the light of day because of claims that the Nigerian government did not fulfil its own end of the deal.
Nigeria’s lawyers are now asking the UK court to dismiss the award P&ID is holding onto. The FG claims that the P&ID obtained the contract by falsehood, bribery and suppressing vital evidence among others things to win the arbitration.
