The presidential candidate of the Social Democratic Party (SDP) in the 2023 presidential election, Prince Adewole Adebayo, has congratulated Nigerians and the
Federal Government for winning the $11.5billion legal battle with the Process and Industrial Development in a London court.
In the case marked CL-2019-000752, the Federal Government sought to overturn the $6.6billion arbitration award in favour of P&ID in 2017. The award, which had continued to accrue interest since then and has now brought the current total sum before the judgement to approximately $11 billion.The court declared that it did not find any merit in the charges of bribery levelled against the former Attorney-General of Lagos State, who was representing Nigeria in the arbitration, Mr.
Former President Goodluck Jonathan government reached an out-of-tribunal agreement for the payment of $850 million and passed on disbursement to the administration of President Muhammed Buhari.
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