By Temitope Mustapha, Abuja
Nigeria’s President, Bola Ahmed Tinubu, has lauded the recent ruling delivered by Judge Robin Knowles of the Business and Property Court in London. The ruling marks a significant victory for the Federal Government of Nigeria in its legal battle against Process & Industry Development (P&ID) Limited.
The President expressed his commendation in a statement issued by his Spokesperson, Ajuri Ngelale.
President Tinubu praised the UK Court for prioritizing the case’s merits. Judge Knowles’ decision to reject P&ID’s $11.5 billion (USD) award, along with the accrued interest, highlights the fraudulent nature of the award obtained by P&ID in relation to a disputed gas processing plant project in 2010.
“This landmark judgment conclusively proves that nation-states will no longer tolerate economic conspiracies orchestrated by private firms in collusion with corrupt officials. It sets a precedent that protects nations from being held hostage, extorted, and burdened with undue debt by unscrupulous entities.”
“Today’s victory is not only for Nigeria, but also for our continent, Africa, and the developing world as a whole. It signifies an end to the long-standing economic exploitation and injustice inflicted upon us.
“Nigeria acknowledges the exceptional efforts of the defense team and recognizes the instrumental role played by the Federal Ministry of Justice and the Office of the Attorney-General in safeguarding our national interests throughout this legal battle,” added the President.
