UK court rules in favour of Nigeria in P&ID contract case

Nigeria has finally won a long legal battle to stop the enforcement of a massive $11 billion arbitration award in favour of P&ID, a company that claimed to have a gas processing contract with the country.

The Commercial Courts of England and Wales, in a judgment delivered by email, agreed with Nigeria’s argument that the contract was a fraud and that P&ID had no intention of performing it.

P&ID had sued Nigeria for breaching the contract and had secured an arbitration award of $6.6 billion in 2017, plus interest at seven percent from 2013, which amounted to over $11 billion by the time of the verdict.