Lateef Fagbemi, SAN – Minister of Justice
Muhammad Idris – Minister of Information
AGF, Min of Info React to Nigeria’s $11.5bn legal win over P&ID (Video)
President Bola Tinubu has described Nigeria’s win in the $11bn Process and Industrial Developments (P&ID) Limited arbitration award as a victory for Africa.
The President commended Justice Robin Knowles of the Commercial Courts of England and Wales for prioritising the merits of the case above all other considerations.
With the judgement delivered on Monday, Nigeria succeeded in stopping the enforcement of the award which was initially in favour of P&ID.
Nigeria’s Minister of Justice and Attorney General of the Federal, Lateef Fagbemi, while speaking with State House correspondents said the judgment has proved conclusively that nation-states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials who conspire to extort and in debt the very nations they swear to defend and protect.
The minister of Justice maintained that the judgement also served as a damning indictment of predatory international investors, who should now rightfully be deterred from prying upon Nigeria and other developing nations to satisfy their greed.
Lateef Fagbemi, SAN- Minister of Justice
And this is the Minister of Information and National Orientation, Muhammad Idris.
Muhammad Idris – Minister of Information and National Orientation
Meanwhile there will be further hearing by the United Kingdom court on the heels of this judgment to determine costs payable by P&ID and others in the matter.