British Court grants Nigeria extension to appeal $9.6bn P&ID judgement

A British court has granted the Nigerian government an extension of deadline to appeal against the $9.6bn arbitral award delivered in favour of a British Virgin Island, Process, and Industrial Development.

After the ruling was delivered on Friday, Nigeria applied for an extension of time to appeal, having missed the initial 28-day window.

The London arbitration panel had in January 2017 issued the award against Nigeria for a breach of a 2010 gas supply contract it entered into with P&ID.

The award was confirmed by a British Court ruling in 2019.

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Nigeria’s appeal is on the grounds that the contract leading to the arbitral award was fraudulent.

The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN), said on Thursday, that the Federal Government had learnt lessons from the $9.6bn arbitral award delivered by a London arbitration panel against Nigeria and in favour of P&ID.

A statement by Malami’s spokesperson, Dr. Umar Jibrilu Gwandu, quoted the minister as speaking at a virtual international conference to mark the African Arbitration Day.

Malami was quoted as saying that “the whole saga associated with P&ID contract was a product of corruption, fraud, and non-compliance with processes and procedures”.

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