President Bola Tinubu has applauded the judgement delivered by Judge Robin Knowles of the Business and Property Court in London, awarding a landmark victory to Nigeria over a firm known as Process & Industrial Development (P&ID) Limited.
POLITICS NIGERIA reports that the court dismissed the $11.5 billion (USD) value of the award plus 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 commended the UK Court for prioritising the merits of the case above all other considerations. He said the judgment proves that nation-states will no longer be held hostage by economic conspiracies between private firms and corrupt officials.
He added that the victory is not for Nigeria alone but for the entire developing world, 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,” President Tinubu’s statement signed by presidential spokesman Ajuri Ngelale said.
