Maritime Nigeria

Main Menu

  • Home
  • News
  • Interviews
  • Maritime Info
  • Photo Gallery
  • Fact
  • Profiles

logo

Header Banner

Maritime Nigeria

  • Home
  • News
    • NPA Under Dantsoho What Does The Charts Indicate?

      Jun 17, 2025
      0
    • IMO ELECTION: Nigeria Assures On Quality Representation

      Jun 17, 2025
      0
    • Maritime Development: Nigeria, Korea Deepen Collaboration

      Jun 16, 2025
      0
    • Shipping and Plastic Pollution-The Dangers To Humanity

      Jun 16, 2025
      0
    • Ocean Conference: Nigeria Canvases Increased Funding For Developing Nations

      Jun 12, 2025
      0
    • NIMASA: Beyond BPSR-Proactivism, Broader Vision Crucial

      Jun 11, 2025
      0
    • Blue Economy: Oyetola Engage World Leaders In France

      Jun 10, 2025
      0
    • War Against Illicit Drugs: NSA Commends Customs, NAFDAC, NDLEA

      Jun 5, 2025
      0
    • FG Commits To Enhance NSC Regulatory Capacity

      May 28, 2025
      0
  • Interviews
    • Nigeria Takes Leadership Of MOWCA

      Nov 18, 2021
      0
    • APM Participates in UK Trade Expo

      Oct 31, 2021
      0
    • Reps Seek Admission at MAN

      Dec 7, 2020
      0
    • NIMASA URGE SHIP OWNERS TO RENEW CABOTAGE LICENSES

      Oct 5, 2020
      0
    • FG Sacks Aboloma As NAIC Gets New EDs

      Aug 28, 2020
      0
    • Britain Celebrate Nigerian In Covid Efforts

      Jul 26, 2020
      0
    • Zuckerberg Backs Trump Against Twitter

      May 28, 2020
      0
    • NAFDAC DG Sheds Light On Chloroquine, Herbals, Masks and Covid19

      May 12, 2020
      0
    • Reps Threaten MDAs

      Feb 24, 2020
      0
  • Maritime Info
    • 2023 POP: Minister Task Cadets On Blue Economy

      Dec 15, 2023
      0
    • Rector, Trainees Excited, Laud FG On Modern Academy

      Jan 26, 2023
      0
    • Buhari Redeploys Minister As NPA, NIMASA, MAN, Others Get New Boards

      Apr 7, 2022
      0
    • World Bank Endorse Nigerian Ports, Partners Navy On Capacity Building

      Mar 19, 2022
      0
    • NIMASA Commend Nigerian Navy, Reassures On Floating Dock

      Feb 9, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • shipping

      Singapore Strait Dangerous To Shipping-ReCAAP

      Jan 24, 2022
      0
    • Lekki Deep Sea Port Will Increase Port Efficiency-Amaechi

      Jan 24, 2022
      0
    • Fair Competition: NSC Partners FCCPC For Effectiveness

      Jan 21, 2022
      0
  • Photo Gallery
    • SERAP Calls for Probe of Entire Privatization Processes 1999-2011

      Dec 4, 2017
      0
    • IMO Election: South Africa, Kenya, Liberia, Morroco and Egypt Make Category C

      Dec 2, 2017
      0
    • Maersk Ship on Fire as Coy Launches Six Container Lifting Tech

      Nov 2, 2016
      0
    • Captured Seafarers Languish In Captivity without Ransom

      Nov 1, 2016
      0
    • Niger Delta: Militants Ask FG to Include Former Agitators in Negotiations

      Nov 1, 2016
      0
    • Self-Audit: NIMASA Set to Review 3% Freight Charge

      Nov 1, 2016
      0
    • Recession: Japanese Shipping Companies to Merge

      Oct 31, 2016
      0
    • NSC Partners ICS on Capacity Building

      Oct 31, 2016
      0
    • AGAIN, APAPA CUSTOMS SURPASS MONTHLY TARGET WITH N33B COLLECTION

      Oct 5, 2016
      0
  • Fact
    • Maritime Police Boss Celebrate Workers

      May 1, 2025
      0
    • “VIN Is A Trade Tool, Not Punitive”-Customs

      Mar 2, 2022
      0
    • Blackmailers, False Publishers and Their Agents: Court Clears Rector

      Feb 18, 2022
      0
    • MAN Unveils Lighthouse For Training of Cadets

      Jan 27, 2022
      0
    • "APM Terminals Is Beyond Moving Boxes Around"-Laursen

      Jan 24, 2022
      0
    • MWUN: Welfare, Safety Our Priority-Adeyanju

      Dec 27, 2021
      0
    • Reversing the Trend: Koko Breaks Record at NPA

      Dec 24, 2021
      0
    • Minister Demands More From MAN At Passing Out Parade

      Dec 20, 2021
      0
    • MARITIME NIGERIA TASK NIMASA ON MARITIME DEVELOPMENT

      Dec 15, 2021
      0
  • Profiles
    • CMA CGM Brings AI Onboard

      Jun 5, 2018
      0
    • Customs Notify 577 Officers of Retirement by Eguono Odjegba

      Jan 12, 2018
      0
    • Over 100 Persons Feared Dead in Mediterranean Ship Wreck

      Nov 3, 2016
      0
    • Ballast Water: Panama Signs Up

      Oct 24, 2016
      0
    • Ist Half Report: Customs generate N385.7bn revenue

      Aug 15, 2016
      0
    • Minister/MD Speeches at the Launch of NPA's CCCIS

      Jul 23, 2016
      0
    • Face off Imminent as Dakuku Warn IOCs to Sit Up or Stay ...

      Jul 22, 2016
      0
    • Hadiza, Welcome to NPA

      Jul 16, 2016
      0
    • Habib Abdullahi Sacked Again from NPA

      Jul 12, 2016
      0
  • NPA Under Dantsoho What Does The Charts Indicate?

  • IMO ELECTION: Nigeria Assures On Quality Representation

  • Maritime Development: Nigeria, Korea Deepen Collaboration

  • Shipping and Plastic Pollution-The Dangers To Humanity

  • Ocean Conference: Nigeria Canvases Increased Funding For Developing Nations

FeaturedNews
Home›Featured›Nigeria Loses $9b To Private Firm

Nigeria Loses $9b To Private Firm

By Editor
Aug 16, 2019
926
0
Share:
“P&ID is committed to vigorously enforcing its rights”-Lawyer
A British court has ordered an Irish firm, Process and Industrial Developments Ltd (P&ID) to seize 20 per cent in assets, of Nigeria’s foreign reserves, amounting to $9bn (£7.4bn).

Justice Butcher of the British Commercial Court gave the ruling on Friday. The ruling will likely raise concerns among foreign investors. The case dates back to 2010, when Dr. Goodluck Jonathan was Nigeria’s president. The Nigerian government, under Dr. Jonathan, had struck a deal with the Irish firm to supply gas to a processing plant built and run by P&ID in Calabar.
The agreement was for a 20-year deal. But the Nigerian government failed to keep to her own side of the agreement, prompting the firm to take the case to court. Meanwhile, in 2013, P&ID won a $6.6bn arbitration case against Nigeria.
The figure was calculated based on what the company was estimated to have earned over the course of the 20-year agreement. But in today’s ruling, the firm said the amount had risen to $9bn following interest accrued so far.
Today’s decision means that the arbitration is converted into a legal judgement, allowing P&ID to attempt a seizure of the assets. Andrew Stafford QC, P&ID’s lawyer, said: “We are pleased that the Court has rejected Nigeria’s objections both to the arbitration process and to the amount of the award, and that it will grant permission to P&ID to begin enforcement of the award in the United Kingdom.” He added: “P&ID is committed to vigorously enforcing its rights, and we intend to begin the process of seizing Nigerian assets in order to satisfy this award as soon as possible.”

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • More
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Telegram (Opens in new window)

Related

Previous Article

Port Connectivity: Nigeria Lags

Next Article

Hadiza Calls For Greater Port Efficiency

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Related articles More from author

  • News

    VP Shettima Inaugurate $115m Upgrade By APMT At WACT

    Sep 4, 2024
    By Editor
  • News

    Sea Time for Sale?

    Jun 9, 2017
    By Editor
  • News

    Dont Import Rice Through FTZs, Customs Implore Importers

    Apr 10, 2017
    By Editor
  • FeaturedNews

    “Embrace eCommerce To Grow Economy”-Nwabunike

    Jan 2, 2021
    By Editor
  • Trade facilitation
    FeaturedMaritime InfoNews

    Edike at ANLCA

    Mar 11, 2016
    By Editor
  • News

    “Our Focus Not On Tariff, Port Efficiency Paramount”-Akutah

    Jan 25, 2024
    By Editor

Leave a Reply Cancel reply

  • FeaturedMaritime InfoNews

    Dakuku Advocates Good Governance as Panacea to Economic Recovery

  • FactFeaturedInterviewsMaritime InfoNews

    New Vista, New Dawn at MAN Oron as Mkpandiok Rebirths the Academy from the Ashes

  • News

    FLOODS: FG Inaugurates Committee on Disaster Prevention

Looking For Something?

Read From

  • Agriculture
  • Customs Operations
  • Fact
  • Featured
  • Interviews
  • Maritime Info
  • News
  • One Question
  • Photo Gallery
  • Profiles
  • sports

Just In

News

NPA Under Dantsoho What Does The Charts Indicate?

Apart from the commencement of actual works on the $1billion ports reconstruction, the Managing Director of the Nigeria Ports Authority, Dr. Abubakar Dantsoho (with unalloyed support of the performance-driven Minister ...
  • IMO ELECTION: Nigeria Assures On Quality Representation

    By Editor
    Jun 17, 2025
  • Maritime Development: Nigeria, Korea Deepen Collaboration

    By Editor
    Jun 16, 2025
  • Shipping and Plastic Pollution-The Dangers To Humanity

    By Editor
    Jun 16, 2025
  • Ocean Conference: Nigeria Canvases Increased Funding For Developing Nations

    By Editor
    Jun 12, 2025
  • Home
  • About Us
  • Contact Us
© 2013 Maritime Nigeria | All Rights Reserved