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Federal Government Rules Out Negotiation With P&Id Over $9.6Bn Fine

Federal Government Rules Out Negotiation With P&Id Over $9.6Bn Fine (Updated: 2 years ago)


Attorney-General of the Federation and Minister of Justice, Abubakar Malami, says the federal government is not considering negotiations with Process and Industrial Development Limited (P&ID).

Last week, 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 spokesman, in a statement said Nigeria will ensure that the company doesn’t reap from where it didn’t sow.

“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 matter 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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