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$9.6bn P&ID Debt: FG Set To Pay $200m Security Deposit, Today
The Federal Government has finally agreed to pay the $200million security deposit ordered by Justice Christopher Butcher of London Commercial Court in September in the ongoing gas dispute case between Nigeria and Process and Industry Development Limited (P&ID), it has been learnt.
The British court had asked Nigeria to pay $200million security payment in the court’s account while granting request to stay execution in the award of $9.6billion award in favour of P&ID.
In a statement by the embattled P&ID, last Saturday, the Federal Government’s legal team said during a hearing at the London court, last Friday that Nigeria would pay the $200million security deposit.
The statement was made available by the Associate Director, In-House, London, the media firm that represents P&ID, Chris Rogers, following an enquiry, yesterday.
The statement read in part, “Before Justice Butcher today (Friday) in London, the Nigerian legal team acknowledged that President Muhammadu Buhari has authorised the steps to provide a bank guarantee for the $200million in security that was ordered by the English court in September.
“Moreover, the following steps have already been taken by the Nigerian Government: Ministry of Finance has received approval to proceed with obtaining the bank guarantee; Minister of Finance has submitted a request to the Central Bank of Nigeria (CBN) to proceed with procuring the bank guarantee; the Central Bank of Nigeria has submitted a request to an unnamed foreign correspondent bank to issue the bank guarantee from London and provide the relevant information to the court.”
The Federal Government through the Office of the Attorney General of the Federation had filed an appeal before the London court to stop the order of September, 2019, to pay the $200million security deposit and the $9.6billion Tribunal Award in favour of P&ID.
The Minister of Information and Culture, Alhaji Lai Mohammed, who was part of the Federal Government’s delegation to London late September, disclosed to reporters in Abuja on October 2, that the government had begun the process of filing an appeal against the $200million security deposit.
He said the government retained international legal firm of Curtis, Mallet-Prevost, Colt & Mosle LLP, for the case.
Apart from the $200million, Mohammed said the government would be able to seek a refund of the $250,000 it was asked to pay to P&ID, if the appeal succeeded.
Last week, the Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN, confirmed that the Federal Government had filed the appeal.
But P&ID’s statement on Saturday, following a hearing at the London court, indicated that the appeal had failed.
Unfortunately, the P&ID’s claim could not be independently verified as at the time of filing this report, yesterday.
Also, efforts made on Saturday to get the AGF Office to state its side of the case failed.
The spokesperson for the AGF, Dr Umar Gwandu, who was confronted with the claims by P&ID as to the alleged developments at the London court, last Friday, promised to get back to one of our correspondents.
As of the time of filing this report around 11.30pm, about eight hours after he was contacted, he had yet to get back.
Several calls made to his telephone lines thereafter were not responded to.
Also, the Minister of Information, Lai Mohammed, did not respond to several calls and a text message sent to his line.
However, responding to the development in the statement, P&ID said the court hearing was a welcome development.
“The eleventh-hour gambit by Nigeria’s Attorney General, Abubakar Malami, to avoid paying the $200million in security to the English Court on November 25 has failed,” the company said.
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Akpabio Withdraws All Defamation Suits After Priest’s Sermon
The Senate President, Senator Godswill Akpabio, has directed his lawyers to withdraw all ongoing defamation lawsuits against several individuals, saying he was moved by counsel during a New Year Mass.
Speaking at the Sacred Heart Parish in Uyo, yesterday, Akpabio said he had filed nearly nine lawsuits against individuals he accused of defaming him.
He said, “I had almost nine cases in court against some individuals who defamed me, who lied against me, who slandered my name.
“But I listened to the priest and suddenly realised he was talking to me, so I hereby direct my solicitor to withdraw all lawsuits against them.”
In 2025, Akpabio had filed several high-profile defamation lawsuits, including one against colleague Senator Natasha Akpoti?Uduaghan.
In late 2025, Akpabio filed a N200 billion defamation lawsuit against her over allegations of sexual harassment, which he denied and urged her to substantiate in court.
Earlier in the year, Akpabio’s wife also filed defamation suits against Akpoti?Uduaghan over claims she said had harmed her family’s reputation.
Relations between the two lawmakers soured after Akpoti?Uduaghan accused Akpabio of influencing her suspension from the Senate in March 2025, following her public allegations of misconduct.
The Senator had previously challenged actions taken against her in court, including a N100 billion defamation suit she filed against Akpabio and other defendants over alleged remarks that she said damaged her reputation.
With yesterday’s announcement, Akpabio has formally ended all pending legal disputes arising from defamation claims, signalling closure to the publicised litigations as the year begins.
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‘Best Way To Show Gratitude Is To Deliver Tinubu in 2027’
Rivers State Governor, Sir Siminalayi Fubara, has declared that the best form of gratitude Rivers people owe President Bola Ahmed Tinubu for protecting the interest of the State is to galvanize massive support for the President in 2027.
Fubara disclosed this last Monday during the commissioning of Permanent Secretaries Quarters built by his administration at Elimgbu in Obio Akpor Local Government Area of the State.
He said that the State has what it takes to deliver the President during the 2027 general elections.
“We’ve taken a decision,our decision is for the good of Rivers State, our decision is to say thank you for the protection we have from Mr President, our decision is to prove that we have what it takes to deliver Mr President.”
Fubara expressed delight over the completion of the project, stating that the initiative was to provide accommodation, a basic need of life for public servants in the state to improve their productivity.
He explained that lack of effective social welfare was at the root of some incriminating actions that undermine the purpose of governance, noting that the commissioning of the newly built Permanent Secretaries Quarters marks a significant milestone in civil service welfare and institutional development.
“Insecurity begins when individuals are uncertain of what the next hour holds. This situation is especially challenging for family men and women, affecting confidence and decision-making,” he observed.
Fubara emphasized the need for proper maintenance of the facility and urged the beneficiaries to protect the project like a personal property, while directing the State Head of Service to appoint a facility manager to ensure long-term maintenance.
In her remarks, the Special Guest of Honour and Head of the Civil Service of the Federation, Mrs Didi Esther Walson-Jack, who unveiled the project, expressed appreciation to the governor and Rivers State for inviting her to commission the project.
She commended Fubara for prioritizing the welfare of Permanent Secretaries who are senior public servants and accounting officers, noting that the project reflects purposeful and visionary leadership, and urged other states to borrow a cue from the Rivers State Governor.
Walson-Jack described the initiative as a strategic investment in staff welfare and institutional continuity which she noted is in line with Renewed Hope Initiative on provision of mass housing and social stability.
“The commissioning of these houses reflect a deliberate commitment to the dignity, welfare, and productivity of senior public servants responsible for policy coordination and service delivery,” she said.
In his goodwill message, the National Secretary of the All Progressives Congress (APC), Senator Ajibode Bashiru, who led a high powered delegation on a visit to the governor, congratulated Rivers people for aligning with the Pan Nigerian political party, assuring that the interest of Rivers State will be duly protected in the APC.
He described President Bola Tinubu as a detribalised Nigerian who anchors his leadership on equity, fairness and justice, adding that the APC will provide a level playing ground for all.
The APC chief scribe also commended Fubara for providing good accommodation for public servants, stating that it will address issues of sabotage, compromise and disloyalty on the part of public servants.
Giving the project description, Permanent Secretary, Rivers State Ministry of Works, Dr. Austin Ezekiel-Hart, said the estate comprises 29 units, including nine standalone duplexes and 20 terrace buildings.
Facilities feature a water treatment plant, synchronized power generators, CCTV and alarm systems, a gym, recreational areas, and green spaces—designed to enhance comfort, performance, and productivity.
Earlier, the Head of the Rivers State Civil Service, Dr Mrs Inyingi Brown, had thanked the governor for his visionary initiative and unwavering commitment to the welfare of Rivers State Civil Servants, and restated the commitment of the State civil servants to the success of Fubara’s administration.
By: Taneh Beemene
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