Page 9 - Industrial Developments News Today

Nigeria had moved to nullify the arbitral award of $9.6 billion made in 2017 in favour of P&ID but had ballooned to $11 billion for an alleged breach of a gas supply and processing agreement.

The Federal Government has won its case against Process & Industrial Developments (P&ID) Limited, which sought enforcement of $11 billion debt in its favour. The development comes after five years of intense legal battle. A UK court on Monday quashed the enforcement of the judgment on the grounds that it was fraudulently obtained. In a…

President Bola Tinubu has lauded Nigeria’s win in the $11bn Process & Industrial Developments (P&ID) Limited arbitration award.

Nigeria has successfully overturned an $11 billion arbitration award favoring Process & Industrial Developments (P&ID). | Pulse Nigeria

Lateef Fagbemi, attorney-general of the federation (AGF) and minister of justice, says the victory Nigeria secured over Process & Industrial Developments (P&ID) Limited is for the country's poor.

The Tinubu government has received one of its biggest news yet as a court sitting in the United Kingdom ruled in favor of Nigeria on P&ID's $11 billion suit.

ABUJA, Nigeria (AP) — A London judge on Monday overturned an arbitration award that would have required Nigeria to pay $11 billion over a failed gas project, finding the contract was obtained through fraud.

Nigeria has finally succeeded in stopping the enforcement of the $11billion arbitration award in favour of Process & Industrial Developments (P&ID)

London judge annuls $11B arbitration award, exposing shocking fraud revelations. Learn more about the case here!

After five years of legal battles, Nigeria has emerged victorious against Process & Industrial Developments (P&ID) Limited