Nigeria rules out negotiation with P&ID – $9.6bn fine

Lawyer General of the Federation and Minister of Justice, Abubakar Malami, says the national government isn’t considering negotiations with Process and Industrial Development Limited (P&ID).

A week ago, the English Court granted the government’s request to contest a $9.6billion fine in favour of P&ID.

The Buhari administration is seeking to reverse the judgement on a controversial Gas Supply and Processing Agreement (GSPA).

On Thursday, Malami’s representative, in an announcement said Nigeria will ensure that the company doesn’t reap from where it didn’t sow.

He stressed, “There will be no negotiation or talk of settlement with P&ID or any related party by or on behalf of the Federal Government of Nigeria”.

“The recent judgment of the English Commercial Court confirmed our view that P&ID and its cohorts are fraudsters who have exploited our country. They will not benefit from their corrupt behavior.”

Malami called that issue a classic case with overwhelming fraudulent and corrupt undertones.

The AGF added that the government remains committed to overturn the exorbitant award without paying one Naira of public money.

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