P&ID $9.6b Verdict: UK Court Grants Nigeria Leave to Appeal

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A court in the United Kingdom has, on Thursday, given Nigeria the go ahead to appeal the judgement involving the Process and Industrial Developments( P&ID) awarding the firm $9.6 billion against Nigeria.

A statement by the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN) from London reads:

“Application for leave to appeal against the award and enforcement of the award is granted.”

The Commercial Court granted Nigeria leave to file an appeal against the award following an application presented before it by the Federal Government of Nigeria.

It could be recalled that P&ID secured the judgement in a failed Gas Supply Project Agreement (GSPA) contract entered with the Federal Ministry of Petroleum Resources.

According to the AGF, another “Application for stay of execution is being considered.”

More details will follow…

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