In a historic verdict, President Bola Tinubu praises the judgment delivered by Judge Robin Knowles of the Business and Property Court in London, awarding a momentous victory to the Federal Government of Nigeria in the case against Process & Industry Development (P&ID) Limited.
Judge Knowles’ decision to dismiss the $11.5 billion (USD) award, coupled with accumulated interest, which P&ID had previously secured due to an alleged failed 2010 gas processing plant deal, shook the legal world.
The court justified this ruling on the basis that the award had been secured through fraudulent means. President Tinubu extols the UK Court for prioritizing the case’s merits over all other aspects.
“This groundbreaking verdict unequivocally signals that sovereign nations will no longer be at the mercy of clandestine economic schemes orchestrated by private entities and corrupt officials who conspire to exploit and plunge the very nations they pledge to safeguard and serve,” proclaims President Tinubu.
“Today’s triumph is not just Nigeria’s but a triumph for our long-oppressed continent and the developing world, which has endured unjust economic wrongdoing and blatant exploitation for far too long.”
Nigeria extends its heartfelt appreciation to the dedicated defense team and acknowledges the pivotal roles played by the Federal Ministry of Justice and the Office of the Attorney-General in safeguarding Nigeria’s interests throughout this legal battle.
This resounding victory in the P&ID case not only clears the path for Nigeria but also sends a powerful message that justice prevails in the face of economic malpractice and exploitation.
It sets a precedent for the world and marks a significant step towards a fairer global economic landscape.