A bitter face off between Nigeria and an offshore company over an $11bn arbitration award intensified last week as lawyers traded accusations of corruption and ineptitude in a London courtroom.
Africa’s largest economy is seeking to overturn a 2017 ruling that ordered it to pay billions in damages after a gas deal with Process & Industrial Development went sideways. The contract in question was struck in 2010, when Nigeria agreed to provide two decades’ free gas to a facility P&ID would build in the country in exchange for processed gas for electricity generation.
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