The Nation Newspaper Losing P&ID case would have cost Nigeria $15b, says Buhari
He noted that his former Chief of Staff , the late Abba Kyari and the Minister of Justice & Attorney-General of the Federation , Abubakar Malami, were mandated to find a way out on the issue.
In the judgment delivered by Justice Robert Knowles, it was held that the process through which P&ID secured a 2010 contract to build a gas processing plant in Calabar, Cross River State, was fraudulent. “But it was a close-run thing. As the judge said ‘I end the case acutely conscious of how readily the outcome could have been different, and of the enormous resources ultimately required from Nigeria as the successful party to make good its challenge.’
“The ‘P&ID Affair’ was already firmly set by the time I came into office in 2015. A company registered in the British Virgin Islands that no one had heard of, with hardly any staff or assets, had won a contract to build a gas processing plant in Cross Rivers.“The company was owned by Irish intermediaries who knew Nigeria well and had done business in everything from healthcare to fixing tanks.“The previous government could not supply the gas. The plant was never built.
“Working with a number of different agencies and senior officials of government, we began to find a huge amount of evidence, not all of which Justice Knowles was to accept. But he agreed that P&ID had paid bribes. He agreed that one of P&ID’s founders had committed perjury. “But even at this moment, we should note what the English judge cautioned. The arbitration process in London “was a shell that got nowhere near the truth.” We need better contracts, in the public and private sector.
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