Protesters Storm British High Commission Over $9.6b P & ID Judgement

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Protesters have stormed the offices of the British High Commission and Embassy of Ireland in Abuja after a international arbitration court ordered Nigeria to pay British firm, P & ID, $9.6billion.

The United Kingdom, Business & Property Courts (the Commercial Court), presided by Justice Butcher granted P&ID’s enforcement request to enforce a March 20, 2013 award against Nigeria by a District Circuit Court in Washington DC.

Friday’s award converts the arbitration award into a domestic UK judgment against Nigeria.

The initial award of $6.6 billion as damages was in favour of a British engineering firm, Process & Industrial Development Limited (P&ID), which accused the Nigerian government of breaching a 2010 gas contract agreement.

The tribunal said the damages were calculated as the present value of 20-year income, minus certain capital and operating costs incurred from building and running the refining facility.

The award was handed by a tribunal constituted under the rules of the Arbitration Act 1996 (England and Wales) and the Nigerian Arbitration and Conciliation Act (CAP A18 LFN 2004).

The award to Irish firm, Process & Industrial Developments Limited (P&ID), continues to generate controversy, even as presidency hawks are urging the federal government to take stern actions to protect the country’s assets threatened by the hefty award, according to a new report by Nigerian newspaper,  Thisday.

Today’s Echo gathers that several Civil Society Organizations have come together to organise the protests. The protesters are demanding for a reduction in the award, citing the obvious impact it will have on the economy. Some also believe the judgement was the result of a plot by international and local scammers to fleece Nigeria of money

The protesters’ letter has been received by the British Commision and the embassy of Ireland.

They also demanded that the mode of contract award should be reviewed for any foul play. Protests are expected to continue throughout the week

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