In 2010, P&ID and the Nigerian government reached an agreement for P&ID to construct a gas processing plant in Calabar, Cross River State. However, the contract reportedly fell through because the Nigerian government failed to keep its half of the bargain.
TheCable reports that Justice Robin Knowles will issue a ruling in the P & ID case tomorrow in the United Kingdom.
P&ID went to court over allegations that Nigeria had broken the terms of their contract and won an arbitral award against the country.
On January 31, 2017, a panel found in favor of P&ID and ordered Nigeria to pay $6.6 billion in damages, plus seven percent interest on both the pre- and post-judgment balances.
Nigeria sought a stay of execution and the lifting of sanctions after the ruling.
Judge Ross Cranston of the Business and Property Courts of England and Wales granted the application in September 2020, sending the dispute back to arbitration.
The Nigerian government claimed the gas transaction was a fraudulent scheme to steal money from the country.
The government’s attorneys claimed in court that P&ID personnel had bribed their way into the deal.
In response, P&ID claimed that the Nigerian government was engaging in “false allegations and wild conspiracy theories.”
Nigeria claimed in a trial held in March that bribery and perjury were used to gain the contract and that the $11 billion arbitration award—after interest—should be nullified.
In September, it was revealed that P&ID was trying to settle with the federal government without going to court.