President Bola Tinubu has applauded Nigeria’s victory in today’s judgment delivered by Judge Robin Knowles of the Business and Property Court in London.
In a press statement signed by Chief Ajuri Ngelale, Special Adviser to the President, Media & Publicity, on Monday, Tinubu applauded the awarding of a landmark victory to the Federal Government of Nigeria over Process & Industrial Development (P&ID) Limited.
Tinubu applauded the UK court for prioritizing the merits of the case over all other considerations following Judge Knowles’ dismissal of the $11.5 billion (USD) value of the award plus accumulated interest previously won by P&ID over a failed 2010 deal to allegedly build a gas processing plant.
“This landmark judgement proves conclusively that nation-states will no longer be held hostage by economic conspiracies between private firms and solely 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 defence 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 stated.
