News
FG Rejects $9.6bn Debt Judgement, Links Contract To Yar’Adua’s Govt
The Federal Government has linked the contract which led to a judgement debt of $9.6billion (approximately N3.5trillion) to the administration of ex-President Umaru Musa Yar’Adua.
It also protested against the award of the judgment debt, and claimed that it cannot stand.
The government also said that President Muhammadu Buhari has ordered the Economic and Financial Crimes Commission (EFCC), the National Intelligence Agency (NIA) and the Inspector-General of Police to probe the criminal conspiracy behind the failed contract.
The government alleged that the contractor; Process and Industrial Developments Ltd (P&ID) did not execute the contract, and therefore, was not entitled to any such payment.
The government made the clarifications at a joint briefing in Abuja by the Minister of Information and Culture, Alhaji Lai Mohammed alongside the Minister of Justice, Abubakar Malami (SAN), the Minister of Finance, Zainab Ahmed and the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, yesterday.
Mohammed said: “We have invited you here today to brief you on the recent judgement of a UK Court authorizing Process and Industrial Developments Ltd (P&ID) to seize $9.6billion in Nigerian assets, over a contract entered into by the company and the Ministry of Petroleum Resources in 2010.
“We will quickly run you through the issues at stake as well as what the Nigerian government is doing to stave off any seizure of its assets. We do hope that by the time we conclude this briefing, the media would have been better informed on the whole issue, hence will be better placed to inform Nigerians and clear the misrepresentations in certain circles.
“The judgement that was delivered on Friday, August 16, 2019, is fallout of the contract purportedly entered into in 2010 between the Federal Ministry of Petroleum Resources and P&ID. Please, note that in the 20-year Gas Supply Processing Agreement (GSPA) purportedly entered into with the P&ID in 2010, the company never performed as agreed.”
Malami said “the contract was designed ab initio to fail.
“We are investigating the criminal conspiracy”.
The Minister of Finance, Mrs. Ahmed said, “This judgment cannot stand. It is about N3.5trillion, which is the size of our national budget.”
The CBN governor said P&ID “did not invest one cent into this country and challenged the firm to show proof.”
It would be recalled that an Irish-owned firm, Process and Industrial Developments Ltd (P&ID) was granted court permission to seize up to $9billion (£7.4billion) in assets belonging to the Nigerian government.
Last week, Mr Justice Christopher John Butcher of the British Commercial Court had said that the firm could take 20 per cent of Nigeria’s foreign reserves, a move that would deal a devastating blow to the Nigerian economy.
According to reports, in 2010, the company struck a deal in which the Nigerian government would supply gas to a processing plant in Calabar, built and run by P&ID, formed by two Irish businessmen.
The government failed to fulfill its side of the agreement.
However, in 2013, P&ID won a $6.6billion arbitration case.
The figure was calculated based on what the company was estimated to have earned over the course of the 20-year agreement.
But P&ID now says interest accrued means it is owed $9billion.
The court’s decision means that the arbitration has been converted into a legal judgement, allowing P&ID to attempt a seizure of the assets.
Lawyers representing the Nigerian government argued the award should not be enforced because England was not the correct place for the case, and even if it were, the amount awarded was “manifestly excessive.”
Justice Butcher rejected these arguments, and said he would “receive submissions from the parties as to the precise form of order appropriate.”
“P&ID is committed to vigorously enforcing its rights, and we intend to begin the process of seizing Nigerian assets in order to satisfy this award as soon as possible,” said Andrew Stafford, Q.C. of Kobre & Kim, which represents P&ID.
In 2012, P&ID took the government to arbitration over the failure of the deal and won the award, which was based on what it could have earned during the 20-year agreement.
Stafford said that with accrued interest, the award now tops $9.6 billion.
Legal experts say that assets used for diplomatic purposes – such as the Nigerian High Commission building in central London – are not eligible for seizure, but commercial assets are.
News
Ogoni cleanup: Minister Calls For more support from private sector
The Federal Government has called for increased private sector participation and donor funding to sustain ongoing gains in the Ogoni environmental restoration project under the Hydrocarbon Pollution Remediation Project.
Speaking at a conference on donor facilitation and diplomatic support for HYPREP in Abuja, yesterday, the Minister of Environment, Balarabe Lawal, stressed that the Ogoni cleanup programme was designed as a long-term intervention requiring sustained funding, technical support, and international cooperation.
“The project is supposed to be a lifespan project. We must move towards achieving its main aim, which is environmental restoration and sustainable development,” he added.
Lawal acknowledged the contributions of the United Nations Environment Programme, describing its assessment as the scientific foundation of the ongoing remediation efforts in Ogoni land.
“We are all here because of that UNEP report. It provided the scientific foundation for what has become one of the world’s most ambitious environmental remediation programmes,” he said.
According to him, hundreds of hectares of hydrocarbon-polluted land have been remediated, while additional sites are currently undergoing cleanup operations.
“We have remediated hundreds of hectares of polluted land, and more sites are still being worked on. Water schemes have also been delivered to affected communities,” he stated.
He added that ecosystem restoration, livelihood support programmes, and healthcare projects were ongoing across affected communities.
“Body health facilities are being constructed, livelihood programmes are empowering thousands, and we are also restoring access to safe drinking water because the first victim of pollution is water,” he said.
The minister also disclosed that the Centre of Excellence for Environmental Restoration was nearing completion, describing it as a major milestone in the project.
“If you go there, you will see one of the biggest edifices being constructed under HYPREP. It will serve as a postgraduate and research institute for environmental remediation,” Lawal said.
Despite the progress, he warned that funding challenges remain a major threat to sustaining the project.
“While substantial progress has been made, the journey is not yet complete. The implementation of UNEP recommendations requires long-term commitment and sustained financial and technical support,” he said.
Lawal therefore, appealed to development partners, donor agencies, international financial institutions, foundations, and private sector players to scale up their support.
“We need your support—financial, technical, scientific, and strategic. No organisation or government can do it alone,” he said.
He further described the Ogoni cleanup as a global model for environmental recovery, climate resilience, and international cooperation.
“The restoration of Ogoni land is not merely a Nigerian undertaking; it is a global model. Its success will show what is possible when governments, communities, and partners work together,” he added.
Also speaking, the Chairman of the Board of Trustees of the Ogoni Trust Fund, Emmanuel Deeyah, said the conference was organised to attract financial, technical, and institutional support for the cleanup exercise.
“We are looking for resources, financial support, expertise, partnership, and collaboration. Government cannot do everything alone,” he said.
Deeyah said the agitation for environmental justice in Ogoni dated back to 1991 when residents drew global attention to the environmental degradation caused by oil exploration activities.
“We farm in Ogoni land and we also fish, but our waters were polluted and the land could no longer support farming activities,” he said.
He explained that the UNEP report recommended that oil companies should contribute $1bn every five years for 30 years to support the remediation programme.
“We have done 10 years now and we have not even received the full $1bn that was supposed to be contributed. The refineries and local operators have not contributed a dime,” he stated.
Last week, the Hydrocarbon Pollution Remediation Project announced the closure of 30 contaminated sites in Ogoniland, Rivers State, while investigations have commenced on 18 high-risk polluted locations in residential communities.
News
IGP pledges police protection for major projects
The Inspector-General of Police, Olatunji Disu, yesterday paid a courtesy visit to the Federal Ministry of Works in Abuja as part of efforts to strengthen collaboration on critical infrastructure projects nationwide.
The visit, disclosed in a statement posted on X by the Nigeria Police Force, was attended by the Minister of Works, David Umahi; the Minister of State for Works, Bello Goronyo; and directors of the ministry.
According to the statement, discussions during the meeting centred on ongoing infrastructural projects nationwide, particularly the Lagos-Calabar Coastal Highway and other major road construction initiatives aimed at improving national development and connectivity.
The police chief reportedly reaffirmed the NPF’s commitment to providing security support for the execution of critical national infrastructure projects across the country.
“The Nigeria Police Force will continue to provide adequate security support and deploy necessary operational resources to ensure the smooth execution and protection of critical national infrastructure projects nationwide,” the statement read.
The meeting was also said to have highlighted the need for stronger inter-agency collaboration in protecting public infrastructure from vandalism and other security threats capable of disrupting construction activities.
PUNCH reports that the Federal Government had raised concerns over acts of vandalism along the Lagos-Calabar Coastal Highway corridor, with Umahi warning that the destruction of drainage systems and road infrastructure could threaten the durability of the project.
News
Eid-el-Kabir: First Lady Urges Unity, Care For Vulnerable
Nigeria’s First Lady, Senator Oluremi Tinubu, yesterday called on Nigerians to embrace peaceful coexistence and extend charity to the less privileged as the country marks Eid-el-Kabir today.
Senator Tinubu said the nation’s strength lies in its unity, mutual respect, and shared commitment to building a compassionate society.
In her message to Muslim faithful across Nigeria and in the diaspora on the occasion of the Eid el-Kabir celebration, the First Lady described the day as a special time for reflection on the enduring values of sacrifice, obedience, faith, and compassion.
“As we celebrate, I encourage all Nigerians to embrace peaceful coexistence and to live in harmony with one another.
“Our strength as a nation lies in our unity, mutual respect, and shared commitment to building a society where love and understanding prevail,” she said.
Mrs Tinubu emphasised the spirit of giving that defines the occasion, urging Nigerians to translate the day’s spiritual lessons into tangible acts of kindness toward those around them.
She appealed, “Let us also remember the essence of this day by extending a helping hand to our neighbours, especially the vulnerable and less privileged ones among us.
“These acts of kindness and generosity can renew hope and bring comfort to many.”
She also called on Nigerians to sustain prayers for the country.
“Let us continue to pray for our dear nation, for sustained peace, stability, and prosperity,” the First Lady said, closing with an Eid Mubarak greeting to all Muslim faithful.
Eid el-Kabir, also known as Eid al-Adha, commemorates the willingness of Prophet Ibrahim to sacrifice his son in obedience to God before God intervened and provided a ram as a substitute.
The occasion is marked by prayers, the slaughter of rams and other livestock, and the distribution of meat to family members, neighbours and the poor.
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