P&ID vs Nigeria: A state affair with high stakes for the whole country

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A record $11bn fine handed down by an arbitration tribunal in favour of a notorious offshore company could devastate Africa’s largest economy, at a time of high debt, low revenue and surging inflation.

For nearly three years, Process & Industrial Developments , a fledgling company incorporated in the British Virgin Islands, has been demanding damages from the Nigerian state at an arbitration tribunal in London for breach of a gas contract, claiming $6bn in a dispute

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