The President Muhammadu Buhari led federal government has reacted to the latest ruling of the UK Commercial Court over the controversial Process and Industrial Developments (P&ID) deal.

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

The court had on Thursday, Sept. 26, 2019, ordered a stay of execution of the $9.6billion damages secured against Nigeria by P&ID pending the determination of an appeal by the federal government.

The court also granted Nigeria’s leave to file an appeal against the award, and asked the government to make a security payment of $200million to it.

Reacting, the federal government described the ruling as a welcome development, adding, “the resolution constitutes an important step in the government’s efforts to defend itself in a fair and just process.”

The federal government's reaction was contained in a statement issued by the Ministry of Information and Culture on its official website, late Thursday.

A copy of it is hereby reproduced below, courtesy Igbere TV.

Statement from the Federal Government of Nigeria on today’s developments in the Court

LONDON – Earlier today, the UK Commercial Court granted the Federal Government of Nigeria’s request for leave to appeal, enabling the Government to appeal the Court’s recognition of the UK Arbitration Tribunal in the UK Court of Appeal.

The UK Commercial Court also approved the Government’s application for a “stay of execution” which will prevent the plaintiff, P&ID, from enforcing the UK Arbitration Tribunal’s earlier judgment while this case is heard on appeal before the Court of Appeal.

The Attorney General Abubakar Malami commented further: “I am pleased with today’s development in the court and see this as a positive resolution that constitutes an important step in the Government’s efforts to defend itself in a fair and just process.”

“We look forward to challenging the UK Commercial Court’s recognition of the Tribunal’s decision in the UK Court of Appeal, uncovering P&ID’s outrageous approach for what it is: a sham based on fraudulent and criminal activity developed to profit from a developing country”, he added.

http://igberetvnews.com/1026135/pid-fg-issues-statement-todays-ruling/

Lalasticlala

Corruption everywhere, My integrity Buhari and his Pastor vice are all corrupted.

Great!

.

Buhari wil always win in the court because he know how to use money and buy our judges but let me remind him that oyibo judges like names more than money

There's lot of work to be done to get the judgement reversed

Naija need to wake up, Buhari Govt have slept for so long

They will react fast na....the ruling is from UK

Chukwuemekaking:
Buhari wil always win in the court because he know how to use money and buy our judges but let me remind him that oyibo judges like names more than money

Which, he only knows how to blackmail and intimedate them with EFCC..

If Nigeria win this case, I pity P&ID. They will pay through their nose

Na everything b welcome development under this buhari-led administration. Dem go cum finish d word bfor next administration. wetin b Welcome development 4 fulani make dem use da one

hmm

$200 million security payment? From this security deposit, the eventual compensation figure would be forcefully removed...... Well, still better than original award.....

Buhari, this is rule of law in practice......

When it suits FG, they stupidly release a statement... But disobey local laws and judgements.... Bunch of clowns.....

Chukwuemekaking:
Buhari wil always win in the court because he know how to use money and buy our judges but let me remind him that oyibo judges like names more than money

UK court!!!! Most people lack sense.

I support buhari on this one. Let me continue with his foolishness and spend more unnecessary money chasing shadows. He shld swallow his pride, humbly call these pipu for dialogue and settle out of court. Just the way he was searching for oil in maiduguri and lake Chad basin.

Man is notorious for being dumb and daft

Ok

Chukwuemekaking:
Buhari wil always win in the court because he know how to use money and buy our judges but let me remind him that oyibo judges like names more than money

....did also bribe for this at the UK court?
Nigerians

Some children of hate here think this is about Buhari.
Why are you guys so unintelligent?

yea

Chukwuemekaking:
Buhari wil always win in the court because he know how to use money and buy our judges but let me remind him that oyibo judges like names more than money

Why not shut it if your lack patriotism for your country. your nightmare Buhari will be out of the game in 3 years

Some children of hate here think this is about Buhari. Why are you guys so unintelligent? - xnsandrxns

Chukwuemekaking:
Buhari wil always win in the court because he know how to use money and buy our judges but let me remind him that oyibo judges like names more than money

Enemies, most esp.in one particular region,if the fraudulent company won and forced Nigeria govt to pay 9.6b dollars,every regions will suffered Including enemy region.

9jayes:
Corruption everywhere, My integrity Buhari and his Pastor vice are all corrupted

Your integrity is corrupted?

Malami and his team should plead with the court to vary the $200m security deposit for the stay of execution. Even bail conditions which seem rather harsh and difficult to meet are varied by the courts to less difficult one. N70bn for stay of execution which may at the end be an effort in futility, is way too much.

$200 million?

More than twice the $87 million the Attorney-General refused to challenge or negotiate over. And here he is jubilating.

Dullardin-ho won't remember sha...

Why didn't the reporter write the part where Nigeria government was given 60 days to pay $200m to the court for the stay of execution and pay $250m to PID within 14 days as legal proceeding fees and failure to do this the petitioner can file for forceful takeover of Nigerian assets?

Mordecai:


$200 million?

More than twice the $87 million the Attorney-General refused to challenge or negotiate over. And here he is jubilating.

President Buhari won't remember sha...

And we are paying 250m within 14 days to the petitioner

This is the real outcome of the hearing yesterday

Chukwuemekaking:
Buhari wil always win in the court because he know how to use money and buy our judges but let me remind him that oyibo judges like names more than money

He also bribed the UK judges? You guys are sick and need urgent attentions.

MediaGuru36:


The President Muhammadu Buhari led federal government has reacted to the latest ruling of the UK Commercial Court over the controversial Process and Industrial Developments (P&ID) deal.

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

The court had on Thursday, Sept. 26, 2019, ordered a stay of execution of the $9.6billion damages secured against Nigeria by P&ID pending the determination of an appeal by the federal government.

The court also granted Nigeria’s leave to file an appeal against the award, and asked the government to make a security payment of $200million to it.

Reacting, the federal government described the ruling as a welcome development, adding, “the resolution constitutes an important step in the government’s efforts to defend itself in a fair and just process.”

The federal government's reaction was contained in a statement issued by the Ministry of Information and Culture on its official website, late Thursday.

A copy of it is hereby reproduced below, courtesy Igbere TV.



http://igberetvnews.com/1026135/pid-fg-issues-statement-todays-ruling/

whoever considers this a great ruling is doing a huģe disservice to nigéria. $200million is no chìlds play in naira and îts no guarantee they will win the case.

if you can waste 200million dolls, why not go into negotiations with them and settle out of court abi werey ni awon people yi ni

Chukwuemekaking:
Buhari wil always win in the court because he know how to use money and buy our judges but let me remind him that oyibo judges like names more than money

this is not about Buhari but Nigeria/Nigerians