The House of Representatives, in its session on Wednesday, has taken the decision to investigate the legal and other service providers engaged in the legal battle between Nigeria and the foreign firm, Process and Industrial Development Limited (P&ID). P&ID had taken Nigeria to arbitration and secured an $11 billion award against the nation in connection with a failed gas project. However, the Federal Government had appealed, citing fraudulent practices in obtaining the gas processing contract, and a recent ruling by the Commercial Courts of England and Wales overturned the $11 billion award against Nigeria.
The motion for the investigation, titled “Reversal of the $11bn arbitration award paid against Nigeria: Call for investigation of all legal and other services providers involved in the P&ID deal,” was presented by Kama Nkemkanma, the lawmaker representing Ohaozara/Onicha/Ivo Federal Constituency in Ebonyi State. The UK court’s confirmation that the gas project award was tainted by fraud served as a crucial basis for this decision.
Nkemkanma highlighted the long-standing legal dispute between Nigeria and P&ID, dating back to the company’s accusation of the Nigerian government’s failure to provide gas, which eventually led to a $6.6 billion judgment debt in 2017. He also pointed out that the Economic and Financial Crimes Commission had investigated P&ID in 2018 and uncovered evidence of bank transfers to a Nigerian government lawyer overseeing the gas plant contract, revealing questionable practices and corruption within the entire process. The motion has been referred to the Committees on Justice and Financial Crimes for further examination.