The House of Representatives has resolved to investigate legal and other service providers involved in botched gas project between Nigeria and foreign firm, Process and Industrial Development Limited.
The gas project was planned to be established in Calabar, the Cross River State capital but could not take off, a situation that made the P&ID to drag Nigeria to arbitration and won an $11bn award against the country.
The Federal Government, however, appealed on the basis gas processing contract was obtained through a questionable process.
In a judgment on Monday in London, Commercial Courts of England and Wales nullified the $11bn award against Nigeria.
President Bola Ahmed Tinubu and the Economic and Financial Crimes Commission(EFCC), have hailed the judgment.
At the plenary on Wednesday, October 25, the lawmaker representing Ohaozara/Onicha/Ivo Federal Constituency, Ebonyi State, Kama Nkemkanma, brought a motion titled “Reversal of the $11bn arbitration award paid against Nigeria: Call for investigation of all legal and other services providers involved in the P &ID deal.”
Presenting the motion, Nkemkanma said that the UK court affirmed that the award for the gas project was obtained by fraud.
“Nigeria has been involved in a fight with P&ID since the company accused the Nigerian government of botching a deal by failing to provide gas to them leading to the ugly situation where the country suffered a $6.6bn judgment debt in 2017 when the arbitration tribunal ordered the country to pay P&ID with interest to start counting from March 2013.
“Again, we are aware that the Economic and Financial Crimes Commission, in 2018, began investigating P&ID and found evidence of two bank transfers totalling $20,000 made by Dublin-based Industrial Consultants (International) Ltd. — part of the P&ID group of companies—to Grace Taiga, a Nigerian government lawyer, who oversaw the award of the gas plant contract, thus exposing the level of shoddiness and corruption around the entire process,” Nkemkanma said.
