PRESIDENT TINUBU WELCOMES THE LONDON COURT JUDGEMENT BETWEEN FGN AND P & I’D LIMITED 23-10-23
By Sadiq Aminu President Bola Tinubu has applauded the judgment rendered by Judge Robin Knowles of the Business and Property Court in London, awarding a landmark victory to the Federal Government over a firm known as Process & Industry Development (P&ID) Limited.
Following Judge Knowles’ dismissal of the $11.5 billion value of the award, including accumulated interest, previously won by P&ID over a failed 2010 deal to allegedly build a gas processing plant, on the grounds that the award was obtained by fraud, President Tinubu commends the UK Court for prioritizing the merits of the case above all other considerations.
He said judgment has proven conclusively that nation states would 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.
The President said victory is not for Nigeria alone, emphasising that it is a victory for Africa, and for the developing world, which have for too long been on the receiving end of unjust economic malpractice and overt exploitation.
President Tinubu said Nigeria was appreciative of the efforts of the defense team, and acknowledged the role of the Federal Ministry of Justice and the Office of the Attorney-General in the process of defending Nigeria’s interest in the case.