Nigerian government mired in corruption tries to stop £8.15 billion gas contract compenstation

The Nigerian government will seek to set aside a £8.15 billion compensation award to a company over a cancelled gas supply and processing deal at the High Court today. (Fri) Five years ago an independent arbitration panel awarded Process and Industrial Developments Ltd (P&ID) £4.8 billion – now valued £8.15 billion with interest – after the illegal cancellation of a gas processing contract by the Nigerian authorities. In what many see as a last ditch attempt, the Nigerian government is…