The Nation Newspaper Adebayo congratulates Nigeria on P&ID case
, has congratulated Nigerians and the Federal Government for winning the $11 billion legal battle with the Process and Industrial Development company in London court.
The award has continued to accrue interest since then and has now brought the current total before the judgment to approximately $11 billion. The company claimed that Nigeria violated the terms of its agreement by failing to provide gas for the power plant it wanted to build for the country. In 2015, P&ID won a judgment for a $10 billion compensation.This frustrated the construction of the Gas Project agreed to during the government of former president Umaru Yar’Adua and deprived the P&ID the potential benefits expected from the 20 years worth of gas supplies with “anticipated profits of $5 to $6 billion.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adebayo Hails Nigeria, Federal Gov't Over Victory In $11bn Suit Against P&IDThe presidential candidate of the Social Democratic Party (SDP) in the 2023 presidential election, Prince Adewole Adebayo, has congratulated Nigerians and the
Read more »
Adebayo, Fayose, Fayemi endorse Oyebanji for second termThe Nation Newspaper Adebayo, Fayose, Fayemi endorse Oyebanji for second term
Read more »
EU, Netherlands to boost jobs in NigeriaThe Nation Newspaper EU, Netherlands to boost jobs in Nigeria
Read more »
Report rates Nigeria’s economic, political climates ’stable’The Nation Newspaper Report rates Nigeria’s economic, political climates ’stable’
Read more »
Gowon is iconic architect of Nigeria project, says ACFThe Nation Newspaper Gowon is iconic architect of Nigeria project, says ACF
Read more »
Nigeria hosts global agric-tech expoThe Nation Newspaper Nigeria hosts global agric-tech expo
Read more »