Shehu Sani Reacts As Nigeria Wins $11 Billion P&ID Case

Former Nigerian lawmaker, Shehu Sani, has applauded the court ruling which awarded a landmark victory to the Nigerian Government over Process & Industrial Development (P&ID) Limited.

Naija News earlier reported that Judge Robin Knowles of the Business and Property Court in London ruled in favour of Nigeria and quashed the enforcement of the $11 billion arbitration award in favour of P&ID.

Reacting to the development in a post via his X handle on Monday, the former lawmaker said it was a big relief for Nigeria to win the case that would have led to the loss of $11 billion to a fraudulent deal.

Sani stated that this case should be a great lesson for the federal government on the need to exercise caution in the signing of deals with dubious foreign investors.

He wrote: “It’s a big relief for Nigeria to Win the P&ID case in London that would have led to the loss of $ 11 billion to a fraudulent deal. This should be a great lesson for the Government on the need to exercise caution in the signing of deals with dubious foreign investors. Kudos to the legal team.”

Tinubu Reacts As Nigeria Wins $11 Billion P&ID Case

President Bola Tinubu has applauded the court ruling, which awarded a landmark victory to the Federal Government of Nigeria over P&ID Limited.

Following the landmark ruling, President Tinubu, in a statement on Monday by his spokesman, Ajuri Ngelale, commended the UK Court for prioritizing the merits of the case above all other considerations.

He said the ruling has proved conclusively that nation-states will no longer be held hostage by economic conspiracies between private firms and solitarily corrupt officials.

President Tinubu added that today’s victory is not for Nigeria alone, but a victory for the long-exploited African continent and for the developing world at large.