Tinubu comments on Nigeria’s victory in the P&ID case

Judge Robin Knowles of the Business and Property Court in London, who gave the Federal Government of Nigeria a historic victory over a business called Process & Industry Development (P&ID) Limited on Monday, has received accolades from President Bola Ahmed Tinubu.

Judge Knowles dismissed the $11.5 billion (USD) verdict plus accrued interest that P&ID had previously won over an apparently unsuccessful 2010 proposal to establish a gas processing plant on the grounds that the award was obtained via fraud.

The president praised the UK Court for putting the case’s merits ahead of all other factors in a statement released by his spokesperson, Ajuri Ngelale.

Read Also:Tinubu pledges to eliminate all forex backlog

“This historic decision demonstrates unequivocally that economic conspiracies between for-profit corporations and solitary corrupt officials, who work together to extort and indebt the very nations they vow to guard and protect, will no longer hold nation states hostage.

“Today’s triumph is not just for Nigeria. It is a win for the developing world as a whole, which has for too long been the victim of overt exploitation and unfair economic practises, as well as for our long-exploited continent.

“Nigeria is appreciative of the tremendous efforts of the defence 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 said.