Nigeria’s President, Bola Ahmed Tinubu has applauded the recent ruling delivered by Judge Robin Knowles of the Business and Property Court in London, which granted a significant triumph to the Federal Government of Nigeria in its case against the company Process & Industrial Development (P&ID) Limited.
The President gave the commendation on Monday in a statement signed by his Spokesperson, Ajuri Ngelale.
President Tinubu commended the UK Court for placing the case’s merits as the top priority, as evidenced by Judge Knowles’ decision to reject the $11.5 billion (USD) award, along with the accrued interest, that P&ID had previously obtained in connection with a disputed 2010 gas processing plant project, citing the award’s fraudulent acquisition.
“This landmark judgment proves conclusively that nation states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and indebt the very nations they swear to defend and protect.
“Today’s victory is not for Nigeria alone. It is a victory for our long-exploited continent and for the developing world at large, which has for too long been on the receiving end of unjust economic malpractice and overt exploitation.
“Nigeria is appreciative of the tremendous efforts of the defense team and acknowledges the role of the Federal Ministry of Justice and the Office of the Attorney-General in the process of defending Nigeria’s interest in this case,” the President added.
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