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 Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, told The PUNCH: "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 AGF attributed Nigeria's victory in the $11bn lawsuit to close a collaboration by agencies of the Federal Government. President Bola Tinubu also expressed excitement over the verdict, saying it liberated the country from unjust economic malpractice. 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.
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