Attorney General of the Federation and Minister of Justice, Lateef Fagbemi has said the judgement of Justice Robin St John Knowles of the United Kingdom Commercial Court setting aside the arbitral award of eleven billion dollars in favour of Process and Industrial Developments Limited (P&ID) for an alleged breach of a Gas Supply and Processing Agreement (GSPA), freed assets of Nigeria and its agencies around the world from the risks they had been exposed to.
The AGF who spoke to Tribune at the presidential villa in Abuja on Monday said despite dragging government to court for an agreement it purportedly entered into with the Ministry of Petroleum Resources to establish a gas processing plant in Calabar, P&ID never ever secured any land site.
According to him, this emphasized the need for the federal government to vigorously challenge and resist the enforcement of the award by P&ID.
He pointed out that Monday’s judgment found that the award had been obtained by fraud and in a way which was contrary to public policy.
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