FG vs P&ID: No fine awarded against Nigeria – AGF

79 total views, no views today

Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami, Wednesday, refuted claims that the Federal Government failed to pay the judgment fine in a case between it and the Processes and Industrial Developments Limited (P&ID).
He said there was no truth in the media reports that the Federal Government failed to pay the fine before February 15, P&ID could enforce the award against the country by seizing its assets in the United Kingdom.
The minister noted that in the first place, P&ID never incurred a debt of $40 million while executing the gas supply and processing agreement (GSPA) entered with Federal Government in 2010 in respect of an accelerated gas development project in Nigeria’s OMLs 67 and 123, adding, “P&ID never began the construction of the project facility although it alleges it incurred about $40m in preliminary expenses.”
In a press briefing, Wednesday, the AGF noted that there was so much misrepresentation in the media concerning the issue hence the need to put the record straight.
The minister said the Ministry would do everything possible to protect the interest of the country in the matter.
Malami stated: “My attention has been drawn to series of online publications grossly misrepresenting facts of the on-going litigation between Processes and Industrial Developments Ltd (P&ID) vs Federal Government of Nigeria (FGN) & Anor pending before the United States District Court of the District of Columbia (“District Court”), the United States Courts of Appeals for the District of Columbia (“Court of Appeal”) and the Business and Property Courts of the United Kingdom (“Commercial Court”).
“Im reaction to these publications and in order to set the record straight, it has become very pertinent for me to present the true facts to the general public as follows:
“The dispute