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“Rarely in modern times can so few have tried to take so much from so many. If Nigeria had lost its arbitration dispute with Process & Industrial Development in a London court on 23 October, it would have cost our people close to USD 15 billion,” he said in the article captioned, “A Matter of Principle”.
We won, and all decent people can sleep easier as a result. Justice Robin Knowles said Nigeria had been the victim of a monstrous fraud. But it was a close-run thing. As the judge said: “I end the case acutely conscious of how readily the outcome could have been different, and of the enormous resources ultimately required from Nigeria as the successful party to make good its challenge.”But ordinary Nigerians never took the decisions that ended up before Justice Knowles.
The previous government could not supply the gas. The plant was never built. Construction was not started. P&ID did not even buy the land for the facility. But the contract, incredibly, was clear: P&ID could sue Nigeria, and claim all the profits it might have made over 20 years as if everything had been completed.
It was clear that far from the whole story had been told. I tasked Abba Kyari, my chief- of-staff and Attorney General of the Federation, Abubakar Malami, with finding a way, even at that late stage and despite so much conflicting advice, to get us a fair hearing. Working with a number of different agencies and senior officials of government, we began to find a huge amount of evidence, not all of which Justice Knowles was to accept. But he agreed that P&ID had paid bribes.
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