‘Nigeria will not pay P&ID $9 billion for failed gas contract’ – oil minister

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In the light of a UK’s court judgment that ordered the Nigerian government to either cough-out a total of $9 billion to Process and Industrial Developments Ltd (P&ID).

This is yet another official statement from the government of Nigeria which calling the bluff of a company she supposedly refers to as a typical ‘blackmailer’.

Nigeria’s Minister of State for Petroleum Resources, Timipre Silva which directly reports to President Muhammadu Buhari said the country is will not relinquish assets P&ID, a special purpose vehicle/firm registered in the British Virgin Islands.

It would be recalled that P&ID to the Nigerian government to court to claim damages over an aborted gas project.

The case is a peculiar one in the sense that P&ID has never done any other business before and or after the contractual agreement became null and void. Records show that the company was set up solely for the project that never took effect nor produce any gas for that matter.