Tinubu commends UK court’s ruling in favour of Nigeria over P&ID

President Bola Ahmed Tinubu has lauded the recent ruling by Judge Robin Knowles of the Business and Property Court in London, which delivered a significant victory to the Federal Government of Nigeria in its dispute with Process & Industry Development (P&ID) Limited.

Judge Knowles, on the basis of fraud, nullified the previously granted $11.5 billion (USD) award, which also included accumulated interest, to P&ID over a failed 2010 agreement to construct a gas processing plant.

The President, as conveyed in a statement by his spokesperson, Ajuri Ngelale, praised the UK Court for prioritizing the case’s merits over any other considerations.

“This landmark judgment proves conclusively that nation states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and indebt the very nations they swear to defend and protect.

“Today’s victory is not for Nigeria alone. It is a victory for our long exploited continent and for the developing world at large, which has for too long been on the receiving end of unjust economic malpractice and overt exploitation.

“Nigeria is appreciative of the tremendous efforts of the defense team and acknowledges the role of the Federal Ministry of Justice and the Office of the Attorney-General in the process of defending Nigeria’s interest in this case,” the President stated.