Headlines
Nigeria Demands Damages As UK Court Dismisses $11bn P&ID Suit
The Federal Government has said it will demand damages from Process & Industrial Developments Limited, which lost its $11bn arbitration award against Nigeria on Monday in the United Kingdom.
The Punch quoted the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, as saying: “There will be further hearing by the United Kingdom court on the heels of this judgment to determine costs payable by P&ID and other others in the matter.’’
The Business and Property Court in London had on Monday halted the enforcement of the P&ID $11bn award against Nigeria in a case marked CL-2019-000752.
In the judgment delivered by Justice Robert Knowles, it was held that the process through which P&ID secured a 2010 contract to build a gas processing plant in Calabar, Cross River State, was fraudulent.
The arbitration court had awarded $6bn against Nigeria in January 2017 over the failed gas processing contract but the fine had accumulated to $11bn before the verdict was delivered on account of the seven per cent interest rate.
Delivering the long-awaited ruling in the case on Monday, Knowles stated, “In the circumstances and for the reasons I have sought to describe and explain, Nigeria succeeds on its challenge under Section 68. I have not accepted all of Nigeria’s allegations but the awards were obtained by fraud and the way in which they were procured was contrary to public policy.”
P&ID had claimed Nigeria violated the terms of its agreement by failing to provide gas for the power plant it wanted to build for the country.
According to the global firm, the alleged violation frustrated the construction of the gas project agreed to by the government of the late former President Umaru Yar’Adua and deprived P&ID of the potential benefits expected from 20 years’ worth of gas supplies with “anticipated profits of $5 to $6bn.”
The arbitral tribunal unanimously decided that the Nigerian government had repudiated the Gas Supply and Processing Agreement by its failure to perform its obligations under the agreement awarded to the P&ID in 2017.
An initial out-of-tribunal agreement for the payment of $850m was reached by a previous administration and the disbursement was passed on to the administration of former President Muhammadu Buhari.
Buhari, however, rejected the idea of paying the negotiated sum and challenged the enforcement of the award before the English Commercial Court.
The judge granted Nigeria’s request for a stay on any asset seizures while its legal challenge was pending, but ordered it to pay $200m to the court within 60 days to ensure the stay, including some court costs to P&ID within 14 days.
In the Monday ruling, Knowles observed that, “Notwithstanding Nigeria’s allegations, I have not found Nigeria’s lawyers in the arbitration to be corrupt. However, the case has shown examples where legal representatives did not do their work to the standard needed, where experts failed to do their work, and where politicians and civil servants failed to ensure that Nigeria as a state participated properly in the arbitration.
“The result was that the tribunal did not have the assistance that it was entitled to expect, which makes the arbitration process work. And Nigeria did not in the event properly consider, select and attempt admittedly difficult legal and factual arguments that the circumstances likely required. Even without the dishonest behaviour of P&ID, Nigeria was compromised.”
The AGF attributed Nigeria’s victory in the $11bn lawsuit to close a collaboration by agencies of the Federal Government.
Fagbemi said, “As you may all be aware by now, the Honorable Justice Robbin St. John Knowles of the United Kingdom commercial court today, handed down a historic judgment, in the suit, where the Federal Republic of Nigeria, otherwise known as FRN, moved to set aside the arbitral award of $9.6bn but which has now accrued interests now come to $11bn, made against Nigeria in 2017 in favour of P&ID for an alleged breach of a gas supply and processing agreement, purportedly entered into with the Ministry of Petroleum Resources to establish a gas processing plant in Calabar for which P&ID never secured any land sight.
“The arbitral award had over the years played the assets of the Federal Republic of Nigeria, and those of its agencies all over the world, at the risk of attachment, erosion of foreign reserves and distortion of monetary, fiscal and other policies of government with dire consequences for Nigeria and its people. These emphasised the need for the FRN to vigorously challenge and resist the enforcement of the award by P&ID.
“The judgment handed down today found that the award had been obtained by fraud and in a way which goes contrary to public policy. In particular, the judge concluded that P&ID obtained the award only by practising the most severe abuses of the arbitral process. It has been a night of long nights indeed.
“The success marks the culmination of a decade of legal action and is not just a victory for the poor of Nigeria but any similar target of corruption and fraud.”
President Bola Tinubu also expressed excitement over the verdict, saying it liberated the country from unjust economic malpractice.
A statement by the President’s Special Adviser on Media and Publicity, Ajuri Ngelale, quoted Tinubu as saying, “This landmark judgment proves that nation-states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and indebt the very nations they swear to defend and protect.
“Today’s victory is not for Nigeria alone; it is a victory for our long-exploited continent and for the developing world at large, which has for too long been on the receiving end of unjust economic malpractice and overt exploitation.”
Tinubu commended the Nigerian legal team and acknowledged the roles of the Federal Ministry of Justice and the office of the AGF in defending the country’s interest in the case.
The Punch
Headlines
Peter Obi Confirms Defection from ADC, Blames Toxicity, Lack of Solidarity
Candidate of Labour Party in the last Presidential election, Mr. Peter Obi, has confirmed that he is on his way out of the African Democratic Congress (ADC).
In a personally signed statement released on Sunday, Obi said he arrived at the decision after deep reflection, describing the move as necessary despite “every constraint.”
“I woke up this morning after my church service with a deeply reflective heart… and felt compelled to share these thoughts,” he wrote, adding that many people do not understand the “silent pains” and private struggles faced by those trying to serve in Nigeria’s political space.
Obi painted a grim picture of the current political climate, describing it as increasingly hostile and discouraging.
“We now live in an environment that has become increasingly toxic, where the very system that should protect and create opportunities… often works against the people,” he said, pointing to intimidation, insecurity, and persistent scrutiny as defining features of the system.
The former Anambra State governor also expressed disappointment over what he described as a lack of solidarity, even among close associates.
“Some who publicly identify with you privately distance themselves or join in unfair criticism,” he noted, lamenting that humility is often misinterpreted as weakness, while compassion is seen as foolishness.
Obi, however, clarified that his decision was not driven by personal grievances against key leaders within the party. He specifically exonerated ADC National Chairman, David Mark, and former Vice President, Atiku Abubakar, saying neither treated him unfairly.
“Let me state clearly: my decision to leave the ADC is not because our highly respected Chairman… treated me badly, nor because… Atiku Abubakar, or any other respected leaders did anything personally wrong to me,” he said.
Instead, Obi attributed his exit to what he described as a recurrence of the same challenges that plagued his time in the Labour Party, including internal divisions, legal battles, and external interference.
“The same Nigerian state and its agents that created unnecessary crises… now appear to be finding their way into the ADC, with endless court cases, internal battles, suspicion, and division,” he stated.
He further lamented that sincere contributions are often undervalued, with individuals becoming scapegoats for broader systemic failures.
“Even within spaces where one labours sincerely, one is sometimes treated like an outsider… as though honest contribution has become a favour being tolerated rather than appreciated,” Obi added.
Despite stepping away, the former governor said he continues to face criticism and attacks on his character, even as he seeks to pursue national development with sincerity.
Reflecting on Nigeria’s broader challenges, Obi questioned societal values that, according to him, often misinterpret integrity and prudent management of resources.
“Why is doing the right thing often misconstrued as wrongdoing in our country? Why is integrity not valued?” he asked.
Obi reiterated that his ambition is not driven by a quest for political office but by a desire to see a better Nigeria.
“I am not desperate to be President… I am desperate to see a society that can console a mother whose child has been kidnapped or killed,” he said, highlighting issues of insecurity, poverty, and displacement.
He concluded on a hopeful note, affirming his belief in Nigeria’s potential for transformation.
“Yet, despite everything, I remain resolute. I firmly believe that Nigeria can still become a country with competent leadership based on justice, compassion, and equal opportunity for all,” he said.
“A new Nigeria is possible.”
Source: Daily Trust
Headlines
US Threatens to Withhold 50% of Aid to Nigeria over Lapses in Security, Civilian Protection and Accountability
The United States is considering to withhold 50 per cent of its aid to Nigeria under a new legislative proposal that ties continued support to measurable progress on security, civilian protection, and accountability.
The U.S. House Appropriations Committee approved the measure as part of the Fiscal Year 2027 National Security, Department of State, and Related Programmes appropriations bill, reflecting growing concern in Washington over persistent violence in Africa’s most populous nation.
The broader bill allocates about $47.32 billion for foreign aid and diplomacy, a reduction of roughly six per cent from the previous year.
If enacted, the proposal would require the Secretary of State to certify that Nigeria is taking “effective steps” to address insecurity, protect civilians, and prosecute perpetrators before half of the allocated aid can be released.
Lawmakers linked the conditions to continued attacks by militant groups and violence affecting vulnerable communities.
The legislation also directs Nigerian authorities to prioritise support for victims, particularly internally displaced persons, and to facilitate the safe return and reconstruction of affected communities.
It calls for investigations and prosecutions tied to armed groups.
In addition, Nigeria would be required to match U.S. funding for supported programmes, effectively introducing a dollar-for-dollar framework that could increase pressure on government finances.
A committee statement said the bill aims to “hold foreign governments accountable for persecuting people of faith”, adding that assistance to Nigeria would remain restricted until “measurable actions are taken” to protect vulnerable populations.
The proposal also places Nigeria under heightened congressional scrutiny, requiring the U.S. administration to notify Congress at least 15 days before any funds are disbursed.
The bill, however, is yet to become law and must still pass both chambers of Congress and be signed by the U.S. president.
Nigeria has previously rejected claims that violence in the country is driven by religious persecution, arguing instead that insecurity reflects a complex mix of terrorism, banditry, and communal conflicts.
Nonetheless, the proposed measure signals a shift toward stricter U.S. oversight of foreign assistance and could reshape bilateral relations if approved.
Headlines
Peter Obi Weeps for Nigerian Workers, Says Minimum Wage Can no Longer Guarantee Modest Living
A frontline presidential aspirant on the platform of the opposition African Democratic Congress (ADC), Peter Obi, has regretted that the minimum wage can no longer guarantee a most modest standard of living in Nigeria.
In a post on his X handle on Friday to mark Workers’ Day, the former Governor of Anambra State said this has happened as inflation, rising food prices, transportation costs, and economic hardship continue to erode the value of honest work.
He said no nation can truly develop beyond the strength, productivity, and wellbeing of its workforce, stressing that the progress of any society rests on the quality of its human capital, the skill of its people, and the commitment of its workers.
‘When workers suffer, the nation suffers. When workers are empowered, the nation prospers,” he noted.
The presidential candidate of the Labour Party (LP) in the 2023 general elections said a productive nation must be built on justice, fairness, and respect for labour, adding that “it is the Nigeria we must work together to achieve.”
Obi said through democratic participation, the Nigerian workers have the power to shape governance and determine the future direction of the nation.
He, therefore, urged Nigerian workers to recognise the strength they hold collectively.
“But beyond their labour, workers also possess another powerful tool, their voice and their vote.
“They owe it to themselves, their children, and future generations to support and demand leadership built on competence, character, capacity, credibility, and compassion. By refusing to reward failure, corruption, ethnic division, and bad governance, they can help build a nation where hard work is respected and rewarded with dignity.
“With the support and participation of Nigerian workers, a new Nigeria is possible,” said Obi.
He saluted workers across the world, especially Nigerian workers whose daily sacrifices continue to sustain our families, communities, institutions, and national economy in the face of severe hardship and uncertainty.






