The award was originally for about $6.6bn but had increased to about $11bn as of the date of the court judgement because of interest. P&ID had brought the claim against Nigeria before the arbitral tribunal, alleging that Nigeria breached a gas supply and purchase agreement (GSPA) to supply gas to a P&ID project that was to be located in Calabar, Cross River State.
LESSONS FROM THE P&ID CASE - THISDAYLIVE thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
On Monday, October 23, 2023, in a stunning victory for Nigeria, a high court in London set aside the arbitration award obtained in January 2017 by P&ID, a British Virgin Islands registered company, against Nigeria. The award was originally for about $6.6 billion but had increased to about $11 billion as of the date of…
Ahead of the 2023 general elections, an All Progressives Congress group has called for the sack of the Director-General of Progressives Governors Forum