P&ID’s $11bn suit against Nigeria gets judgement date

The UK Business and Property Court has fixed Monday, October 23, to deliver judgement in an $11 billion case instituted by Process & Industrial Developments (P&ID) Ltd against the Federal Government of Nigeria.

In the crux of the case which dates back to 2010, P&ID had entered into an agreement with Nigeria to build a gas processing plant in Calabar, Cross River State, but the deal, according to the company, collapsed because the Nigerian government failed to fulfill its own end of the bargain.

The break in the agreement forced the company to drag the Nigerian government to court over the alleged breach of contract, and sought an arbitral award against the country.