Federal Government to appeal the $9.6bn P&ID judgment


A United Kingdom court has granted the Federal Government leave to appeal the judgment that asked Process and Industrial Developments (P&ID) Limited to seize $9.6bn in Nigerian assets.

The P&ID secured the damages against Nigeria following a failed Gas Supply Project Agreement (GSPA) contract between it and the Federal Ministry of Petroleum Resources.

The Attorney-General of the Federation and Minister of Justice, Abubakar Malami in a brief from London said, application for leave to appeal against the award and enforcement of the award has been granted

Application for stay of execution is currently being considered.