A court in the United Kingdom has ordered Process & Industrial Developments (P&ID) Limited to pay Nigeria £20 million in damages and compensation following its victory in a $11 billion judgment debt heard in October 2023.
The court ordered that the money be given to Nigeria within the next 28 days.
The award of £20 million in damages was revealed during a subsequent ruling on the subject in London to determine what happened after the October ruling.
Reports said the hearing was also held to determine whether P&ID would be granted permission to appeal the decision, however, the court denied P&ID’s request to remand the case to arbitration.
It contended that the company’s conduct during the process was heinous, thus the judgment.
Nigeria had sued P&ID for at least £20 million in damages and legal fees but obtained significant relief in October when the UK court released it from entanglement in the $11 billion judgment debt previously issued in favour of P&ID Limited.
In the lawsuit between the Federal Government of Nigeria and P&ID, Justice Robin Knowles of the Commercial Courts of England and Wales affirmed Nigeria’s claim that the gas processing contract was obtained by fraud.
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In the judgment delivered after five years of legal battle, Judge Knowles said: “In the circumstances and the reasons I have sought to describe and explain, Nigeria succeeds on its challenge under section 68. I have not accepted all of Nigeria’s allegations. But the awards were obtained by fraud and the way they were procured was contrary to public policy.”
Recall that P&ID was contracted by Nigeria in 2010 to build a gas processing plant in Calabar, Cross River State, in the country’s south but the deal fell through because the Nigerian government did not keep its half of the bargain.