$9.6b judgment: How P&ID snubbed Buhari’s $600m offer

$9.6b judgment: How P&ID snubbed Buhari’s $600m offer

A fact-sheet now in circulation has debunked accusations by Messrs Process and Industrial Developments (P&ID) that Nigerian officials were indifferent to their offers to settle, before a UK commercial court gave it a humongous and world record $9.6billion award on a failed gas supply deal. According to the fact-sheet, President Muhammadu Buhari and Vice-President Yemi Osinbajo separately approved negotiation with Messrs Process and Industrial Developments (P&ID) after the Arbitration Tribunal awarded $6.597billion to the company. The two leaders at various times offered $250million and $600million to the Irish company. The…

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