Lets get this straight, I didnt absolve anyone, i was merely stating the facts based on a report from an investiagtive journalist who had access to the court documents. I broke down the contents of the article as best as I could

wirinet:
Informative, but still trying to absolve previous governments, while putting the blame squarely on Buhari.
I will only respond to the red flags.



On what basis was P&ID given the contract? What is their antecedents, where have they previously done similar projects?

From what I can deduce, Rilwan Lukman was the major proponent for P&ID. Just like he pushed Afren. A lot of companies are usually used as fronts by our Nigerian government officials in charge of the Petroleum industry, so its not a new practice.



Who did they procure licences from, at what cost and what type of licences? What do you mean " international contractors to come up with designs for the project"? Maybe you mean to say consultants. You don't employ contractors to design a project, you employ consultants.
Had they procured the site for their processing plant? What actual infrastructure had they spent money on?

Contractors and consultants. In the O&G industry, for a project of that magnitude, they would need FEED designs, EPC designs, various licences specific to the gas industry, 3D modelling designs, etc. They would also have signed forward supply contracts with international supplier/contractors. They claim they spent $29m in getting all this together which is plausible in the industry.

The Cross rivers state governor, Liyel Imoke provided land for the project at that time



We need to know the Nigerian on the board of P&ID, he has questions to answer. The individual who was nominated on the board was not named


Nigeria signed a 20yr agreement based on the promise of Addax to supply gas to P&ID? does or did Addax have pipelines and infrastructure to supply the required quality of gas to the agreed site in Cross Rivers? What was the contract agreement with Addax? We need to hear from Addax.


Addax was already flaring gas from one of their fields in Cross Rivers and at meetings were they were invited, they committed to building infrastructre which included a pipeline that will channel the gas to the P&ID facility


How do you expect Addax to meet up with its expectations? You think building gas pipelines and infrastructure is an abracadabra? You just wave your magic wand and poofs gas starts flowing into P&IDs facilities (which was non existent as of that time anyway)

There was an agreed time frame by all the involved parties for building and takeoff of the projet, I believe it was 15months for the first phase.


It was even P&ID that said they were no more interested. If the company was registered in Nigeria, why not take the FG to Nigerian courts?

I believe their was an arbitration clause in the contract that allows them to take the matter to an international court of arbitration


If GEJ, agreed to pay $850m, why didn't he pay before he left office. He could have diverted the money he borrowed for paying salaries to pay for the money he negotiated for.

Unfortunately, I don't have an answer to this. The article doesn't go into why the GEJ government didn't pay before handing over


Even though I do not support the failure of Buhari to not appoint an oil minister, I would never have supported him paying a dime of that money. He came in when crude fell to $30 and Nigeria entered a recession, where did you expect him to get $850m from. If he paid, and the economy finally crashed as some people are wishing, they would be ecstatic saying Buhari crash and economy Jonathan built.

There was an option to sit down with P&ID and renegotiate, this was not done despite several letters to the PMB government



How would the project have guaranteed power? What was the installed capacity at that time? What was the transmission capacity as of 2010? Where was the pipelines all over the Niger delta conveying the gas first to P&ID's processing plant, and then the pipelines conveying the gas to the power stations?

This project was conceptualized under OBJ and the network of pipes to the independent gas plants were supposed to be built by P&ID. The cross river/Addax site was the pilot phase

FarahAideed:
Shut up and go pay them their money, UK courts don't know PDP or APC , all they know is Nigeria .. You people think you can just keep breaching contracts any how ko

Dont be silly bro,go pay them what and for what?That company itself is a scam,I always blame Africans for keeping their foreign reserves in a white man's hands/country.

Any fight btn a black man and white man that goes into white man's court forget it ,because your fate lies in the hand of God,because they'll always favour their fellow white brother over you.

All the Gardafi,Saddam, abaccha and etc money in the foreign land where are they now?.

They want to steal your national cake and you're there spewing BS.

buhariguy:
dont worry, those idiotic pigs that award the fraudulent contract wil pay for it, we wil arrest them, cease all their property in home and abroad to raise the $9.6b.

go ahead .buhari FG ignore a valid international agreement to score a cheap political point. you think it is Nigerian court abeg

itsme01:



Domestic court orders haven't been honoured by FG, its now UK's court order that would be honoured.....


God would punish all PDP crooks that signed us off with bad contracts.like this one and that of NEPA

...

Bros the matter is not that simple oo,because they're holding you guys by the balls as it is now,due to the African stupidity which made them to put their foreign reserves in the hands of the whitemen,I do not see any white country putting their foreign reserves in Africa.

alezzy13:
You obviously have no idea of the implications of what your saying.

You are obviously the one who has no clue...

For instance, if a CEO or CFO (authorized signatories for companies) sign a contract...
Against the contractual counter-party, courts don’t care if the Board approved the contract.

The company (through the Board or shareholder(s)) could successfully sue such CEO/CFO...
But it is IRRELEVANT to the rights of an innocent third-party. Similarly, with FEC approval here.
>

The mod should ban this clown for trying to derail the thread.

Nukilia:


I feel sad when I see folks like you defending incompetent leaders! We were all in this country when Buhari waited for 6 months before getting his cabinet ready. This was a period he was busy junketting from Nigeria to London. I could recall the level of hardship imposed on innocent Nigerians.
The same man watched the value of Naira collapse under the dollars and I could still remember how I cried whenever I tried buying dollars with huge Naira.
The same Buhari decided to make himself minister of petroleum because he felt he could hold two demanding offices at the same time.
The P&ID plan has been properly executed due to the incompetence of our leaders.

Please I need clarification. A contract was signed, this I am aware. But was the contract executed? If it was, where are the evidences? Did the company incur any financial lost?

Nukilia:


I feel sad when I see folks like you defending incompetent leaders! We were all in this country when Buhari waited for 6 months before getting his cabinet ready. This was a period he was busy junketting from Nigeria to London. I could recall the level of hardship imposed on innocent Nigerians.
The same man watched the value of Naira collapse under the dollars and I could still remember how I cried whenever I tried buying dollars with huge Naira.
The same Buhari decided to make himself minister of petroleum because he felt he could hold two demanding offices at the same time.
The P&ID plan has been properly executed due to the incompetence of our leaders.

was it signed by buhari. Who ever signed this scam must be brought to book. Be patriotic man.

It validates nothing, some yahoo boiz could have been acting like they were government representatives.

This the CBN governor's statement on the matter.

$9.6bn judgment: We have no record of P&ID investment in Nigeria —Emefiele
Published


The Governor of the Central Bank of Nigeria, Godwin Emefiele, on Tuesday said the apex bank did not have any record that Process and Industrial Developments Ltd invested any money in the country.

Process and Industrial Developments Ltd recently won a suit granting it the right to seize $9.6bn in Nigerian assets.

The judgement was delivered by a court in the United Kingdom.


The CBN Governor, who spoke at a Press conference in Abuja, described the contract leading to the judgment as a “fraudulent contract” between the Ministry of Petroleum Resources and P&ID.

Emefiele noted that, contrary to its claims in the media, the foreign firm did not invest any money on the contract in Nigeria.

He said, “We have heard and also read in some media that P&ID or the contractor in this case had mentioned that it had invested close to about $40m in the project.


“On our part as the Central Bank of Nigeria, we note that P&ID is a foreign company.

“As a foreign company, if you are investing either in a contract or a project in Nigeria, there are various options you will adopt in bringing in your investment.

“If you are bringing in capital, in which case you are bringing in the money, you will fill Form A and you will also collect a certificate of capital importation.




If you are bringing in machine or assets to execute your contract, then in this case you will fill Form M and also collect a certificate of capital importation to prove that you actually brought in money.

“We have gone through our records, we do not have any information in our records to show that this company brought in one cent into this country and we have accordingly written to the Economic and Financial Crime Commission and the Intelligence Department of the Nigeria Police that are currently investigating this matter.”

blujoi:
I do not have the whole details. But the fact that the FG signed off on the contract after several meetings validates the contract. If your line of defense was valid I'm sure the Nigerian legal counsel would have informed the arbitration court well on time, don't you think? At the end of the day, both the FG and the P&ID company will negotiate terms of settlement. But we wished it was sooner than now that they have a huge advantage over Nigeria.

blujoi:
Lets get this straight, I didnt absolve anyone, i was merely stating the facts based on a report from an investiagtive journalist who had access to the court documents. I broke down the contents of the article as best as I could



This project was conceptualized under OBJ and the network of pipes to the independent gas plants were supposed to be built by P&ID. The cross river/Addax site was the pilot phase

You have been very civil, I like that. I read your previous breakdown of a report of an investigative journalist (I suggest it is a foreign which can suggest an attempt at image laundering and propaganda) but even then can you share the link.

Secondly, can we at least have the website of the company, maybe I don't know how to use Google again, but my own search is not bring out the company at all, can you help?

I am not sure this is correct, I think the court can say there was no contract in the first place even when you think you are hold a signed paper, I am sure you have heard of fake LPO flying around.
If you take an LPO to a bank for example to obtain a loan, even if the paper before the bank is signed, they will always do their due diligence and check to be sure that that LPO is in the record of the company and they are willing to pay for it when work is done. If that happens at the local level I expect it to be more stringent when you are dealing with at the national level.

But the so called P&ID feel aggrieved, they should bring the matter to Igboshiere court on Lagos Island and not some local UK court when the so called contract was signed in Nigeria.

9jaRealist:


You are obviously the one who has no clue...

For instance, if a CEO or CFO (authorized signatories for companies) sign a contract...
Against the contractual counter-party, courts don’t care if the Board approved the contract.

The company (through the Board or shareholder(s)) could successfully sue such CEO/CFO...
But it is IRRELEVANT to the rights of an innocent third-party. Similarly, with FEC approval here.
>

Addax, eh... Smh

What was their capacity/asset size as at the time of signing the contract? Remember, they're running a Production Sharing Contract (PSC) with the FG. Within this time the Addax has been acquired by Sinopec. I wonder the type of guaranty they could have given back then.

This clearly shows that the project was designed to fail ab initio.

I smell SCAM! But incompetence and lack of making a case from the outset of this administration has brought us this deep into poo.

I hope that the scam is unraveled.

blujoi:
Please nobody is happy that our country is being dragged in the international space, yes we should be patriotic does that mean one shouldn't call a spade a spade?

Aondokaa is being clever by half and trying to be sensational. Do oil projects get signed off by the FEC?

I just went through an article by an investigative journalist team who got access to the court documents and i will try my best to breakdown my deductions. Forget about all this APC/PDP blame game

The project was conceptualized under OBJ and the aim of the project was to gather the gas that IOC's flare into a system and use those gathered gas to power gas plants all over the country

Rilwan Lukman was the major facilitator for P&ID who assured them that they will get the contract

P&ID went ahead to procure licenses,engaged international contractors to come up with designs for the project, this they say cost them money

An investment vehicle for the project was duly registered in Nigeria, where Nigeria had a 5% shareholding and also a representative on the board of P&ID

After series of meetings, it was decided the project would be located in Cross river, and Addax petroleum agreed to supply the gas to P&ID for processing

Based on Addax agreeing to supply the gas, the FG signed the 20 year agreement with P&ID

After series of back and forth, by now Yar Adua was in power, Addax reneged on the earlier agreement on the type of gas and timing of the supply

P&ID were still willing to work with what Addax said they would provide

Addax still failed to meet up, I think at this time GEJ was in power and Diezani was asked to ensure Addax complies

After a whole lof delays and frustrations, P&ID wrote to the FG that they were no longer interested and subsequently took the case to the international court of arbitration who decided that UK courts would be the location to hear the case

This was where they came to agree to pay a compensation of $850m

Then comes in the PMB and his team, no one paid any attention to the ruling due to non-nomination of a substantial minister to take charge

And the rest is history

The whole episode is a good example of the incompetency of the people in authority. From top to bottom. the project was meant to guarantee power to the gas plants but at the end of the day, the Nigerian factor came to play!!

Hypnotism:
The mod should ban this clown for trying to derail the thread.

You are not so smart to connect the dots

Nukilia:


Can you tell me what is not shady in Nigeria? Tbh, we as citizens do not really understand how incompetent our leaders are!
Let me pretend like I do not understand the politics. It is shady but I think we are fighting the air

You're also right, it's well

9jaRealist:


You are obviously the one who has no clue...

For instance, if a CEO or CFO (authorized signatories for companies) sign a contract...
Against the contractual counter-party, courts don’t care if the Board approved the contract.

The company (through the Board or shareholder(s)) could successfully sue such CEO/CFO...
But it is IRRELEVANT to the rights of an innocent third-party. Similarly, with FEC approval here.
>

That is when you are talking about legal private entities, it's a different ball game when you are talking about sovereign countries
Here might is right. Could any country punish the US or Russia be punished for unilaterally withdrawing from an agreement? Trump withdrew from an agreement between her and 6 other nations on Iran, no body could make noise.
The US said they would not allow any of its military personnel to be summoned by the ICJ, and would sanction any judge that attempts to try any case involving a US soldier.

BabaIbo:


You're also right, it's well

Wishing you a great weekend

This is all happening because this government lacks a clear economic policy and also effective economic managers.........so the back and forth continues

Nukilia:


Wishing you a great weekend

Thanks, same to you

Abubakar Malami, attorney general of the federation, had said the deal was designed to fail because it was between P&ID and the ministry of petroleum resources which does not produce gas.



“The fact remains, you cannot sign an agreement for a product you do not have. It is against this background that there is need for a criminal investigation,’’ he said.

How can the AGF say Ministry of Petroleum Resources doesn't produce gas? Are gases not produced from crude oil? I don't understand his point?

The perspective is this money is more than our largest National budget (by far)

No company or court has the moral right to put a demand such as that on any country.

At best the company should state it's losses incured as a result of the deal and have it repayed.

Perhaps UK will be happy to see Nigeria as a failed State because of a judgement debt passed in their courts.

Yeah, here’s the link, you can make your own conclusions, https://www.icirnigeria.org/inside-story-of-the-botched-p-id-gas-agreement/


I do not hold brief for P&ID. Whether they have a website or not is immaterial to this case. There are so many companies in the O&G sector doing a lot of business without any website. Most of these companies are comprised of individuals who have worked in the IOC’s or companies that were incorporated solely to corner juicy oil and gas contracts with the backing of Nigerian officials like the case of P&ID. Like I earlier mentioned. Rilwan Lukman was their major backer and unfortunately he died which might explain why the project was sidelined.

9jatriot:


You have been very civil, I like that. I read your previous breakdown of a report of an investigative journalist (I suggest it is a foreign which can suggest an attempt at image laundering and propaganda) but even then can you share the link.

Secondly, can we at least have the website of the company, maybe I don't know how to use Google again, but my own search is not bring out the company at all, can you help?

Let me give you a little background. The Nigerian government had planned to reduce gas flares by the IOC’s. Gas flares are wasted gas which occurs during exploration and production activities by the IOC’s. The plan was to capture this flared gas and pipe it to a gas gathering facility where it will be processed and supplied to the independent gas plants. Addax was already producing in one of the OML’s around the Cross River area. It was decided that the first phase of the gas treatment and gathering project would take place using the gas flared from the Addax operation. On paper it’s a perfect solution, but unfortunately the major facilitator of the company that was going to do the project died. This is a case of incompetence on the Nigerian side and the guys in P&ID decided to cash in on our incompetence.

athorello:
Addax, eh... Smh

What was their capacity/asset size as at the time of signing the contract? Remember, they're running a Production Sharing Contract (PSC) with the FG. Within this time the Addax has been acquired by Sinopec. I wonder the type of guaranty they could have given back then.

This clearly shows that the project was designed to fail ab initio.

I smell SCAM! But incompetence and lack of making a case from the outset of this administration has brought us this deep into poo.

I hope that the scam is unraveled.

Don’t mind the thief, he’s trying to be clever . Like it wasn’t his cabal that they forged Yardua’s signatures and signed off major contracts and even this P&ID deal

DameB:


How can the AGF say Ministry of Petroleum Resources doesn't produce gas? Are gases not produced from crude oil? I don't understand his point?

Thanks.
At least it is not me that is the problem in terms of the company website, and like you also seem to have suggested, this was probably a SPV to steal.
I will check the inside story and see what I can make of it.
Great guy.

blujoi:
Yeah, here’s the link, you can make your own conclusions, https://www.icirnigeria.org/inside-story-of-the-botched-p-id-gas-agreement/


I do not hold brief for P&ID. Whether they have a website or not is immaterial to this case. There are so many companies in the O&G sector doing a lot of business without any website. Most of these companies are comprised of individuals who have worked in the IOC’s or companies that were incorporated solely to corner juicy oil and gas contracts with the backing of Nigerian officials like the case of P&ID. Like I earlier mentioned. Rilwan Lukman was their major backer and unfortunately he died which might explain why the project was sidelined.

blujoi:
Let me give you a little background. The Nigerian government had planned to reduce gas flares by the IOC’s. Gas flares are wasted gas which occurs during exploration and production activities by the IOC’s. The plan was to capture this flared gas and pipe it to a gas gathering facility where it will be processed and supplied to the independent gas plants. Addax was already producing in one of the OML’s around the Cross River area. It was decided that the first phase of the gas treatment and gathering project would take place using the gas flared from the Addax operation. On paper it’s a perfect solution, but unfortunately the major facilitator of the company that was going to do the project died. This is a case of incompetence on the Nigerian side and the guys in P&ID decided to cash in on our incompetence.

Is this not the EGGF at Gbaran Ibie and Escravors?

You are welcome buddy. SPV’s are legal and it’s regularly used by investors all the time. My point in all this is, 1) The project was not a scam. It was meant to benefit Nigeria 2) We are in this situation due to complacency and incompetence by Nigerians in government at all levels. 3) The P&ID guys decided to cash out on our incompetence. I used the JV agreements IOC’s have with the Nigerian government which they never get to fulfill their own part. The IOC’s decided to come up with the PSC concept since the FG will never do their own part, making us lose millions daily.

9jatriot:
Thanks.
At least it is not me that is the problem in terms of the company website, and like you also seem to have suggested, this was probably a SPV to steal.
I will check the inside story and see what I can make of it.
Great guy.

This P&ID project precedes the Gbaran facility built by Shell.

9jatriot:


Is this not the EGGF at Gbaran Ibie and Escravors?

Nukilia:


I feel sad when I see folks like you defending incompetent leaders! We were all in this country when Buhari waited for 6 months before getting his cabinet ready. This was a period he was busy junketting from Nigeria to London. I could recall the level of hardship imposed on innocent Nigerians.
The same man watched the value of Naira collapse under the dollars and I could still remember how I cried whenever I tried buying dollars with huge Naira.
The same Buhari decided to make himself minister of petroleum because he felt he could hold two demanding offices at the same time.
The P&ID plan has been properly executed due to the incompetence of our leaders.

....so because of all these,we should pay ,"owo (money) same "??...if I may ask you ,who do you think will suffer the most of PMB should go ahead and pay the damn money??Buhari,the governor, Ministers, Osinbajo, commissioners?? Who among them will suffer it most ?...you are just too funny,..keep supporting the fraudster,it shows who you are as a person,the present government is corrupt no wahala,but just because you hate them ,so they must pay it either they like it or not ?...am sure u are Dangote's, Otedola,Adenuga,next of kin ,so you have nothing to worry about,since you won't feel the effect,it's we common man that's will bear the brunt .....keep it up

I have gone through the inside story, from what I can see, if there was a breach of contract, it was between P&ID and Addax, is that not how these contracts are run? The NNPC is supposed to be like a witness of some sort?

blujoi:
You are welcome buddy. SPV’s are legal and it’s regularly used by investors all the time. My point in all this is, 1) The project was not a scam. It was meant to benefit Nigeria 2) We are in this situation due to complacency and incompetence by Nigerians in government at all levels. 3) The P&ID guys decided to cash out on our incompetence. I used the JV agreements IOC’s have with the Nigerian government which they never get to fulfill their own part. The IOC’s decided to come up with the PSC concept since the FG will never do their own part, making us lose millions daily.