President Bola Tinubu has expressed his elation and approval of the recent judgement delivered by Judge Robin Knowles of the Business and Property Court in London. The judgement awarded a historic victory to the Federal Government of Nigeria in the case against Process & Industrial Development (P&ID) Limited.
Judge Knowles, in a momentous decision, dismissed the previously awarded $11.5 billion value of the award, along with accumulated interest, which P&ID had purportedly won over a failed 2010 deal to construct a gas processing plant. The dismissal was based on the grounds that the award was fraudulently obtained. President Tinubu commends the UK court for prioritizing the merits of the case above all other considerations.
“This groundbreaking judgment conclusively signifies that nation-states will no longer be held hostage by economic conspiracies orchestrated by private firms and morally bankrupt officials. These individuals conspire to extort and burden the very nations they pledge to defend and protect,” stated President Tinubu.
He further emphasized that this victory transcends Nigeria as it serves as a triumph for the entire continent and the developing world at large, which have long suffered from unjust economic malpractice and glaring exploitation.
“Nigeria extends its profound appreciation to the tireless efforts of the defense team and acknowledges the pivotal role played by the Federal Ministry of Justice and the Office of the Attorney-General in skillfully defending Nigeria’s interests throughout this case,” added the President.
