$9.6bn Judgment: Nigeria Can Appeal – UK Court Rules

By Yusuf Alli

Abuja (Precise Post) – The English Commercial Court has granted Nigeria’s application for leave to file an appeal against the award of $9.6billion to ab Irish firm, Process and Industrial Developments( P&ID).

Another application for a stay of execution of the award was still in progress.

P&ID secured the damages against Nigeria following a failed Gas Supply Project Agreement (GSPA) contract between it and the Federal Ministry of Petroleum Resources.

A brief by the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami(SAN) from London said: “Application for leave to appeal against the award and enforcement of the award is granted.

“Application for stay of execution is being considered.”

Details Shortly…