DOWNLOAD: The $9bn judgement against Nigeria
On August 16, 2019, a British court gave Process and Industrial Development Limited (P&ID) the go-ahead to seize Nigerian assets worth $9 billion.
This is as a result of the failure of the Nigerian government to fulfill its end of a deal it entered into with the company.
In 2010, P&ID had entered into a 20-year gas and supply processing agreement (GSPA) with the federal government to build a state-of-the-art gas processing facility in Calabar, Cross River state.
The deal required the government to build a gas supply pipeline to the P&ID facility.
But the organisation which said after spending several years preparing for the project, the Nigerian government failed to build a pipeline or secure supply of gas as stipulated in the agreement, headed to the court.
Click here to download the judgement of the British court.
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