Lagos and Abuja — A British Commercial Court yesterday affirmed the ruling of a London Arbitration Tribunal which in January 2017, awarded $6.6 billion judgement debt against the federal government over alleged breach of a gas supply and processing agreement (GSPA) it allegedly signed with a British firm, Process and Industrial Developments Ltd (P&ID).
The tribunal had ruled that Nigeria was liable for $6.6 billion in damages, which increased to well over $9 billion with interest accruing daily.
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