The 2023 Labour Party presidential candidate, Peter Obi, has called on the Nigerian judiciary to safeguard the nation’s core values and be open to transformative shifts in the delivery of justice.
In a statement posted on his X account (previously known as Twitter) on Wednesday, the former governor of Anambra State expressed his belief that a truly equitable and just New Nigeria is attainable if the judiciary embraces the essence and call for change.
The 2023 Labour Party presidential candidate, Peter Obi, has called on the Nigerian judiciary to safeguard the nation’s core values and be open to transformative shifts in the delivery of justice.
In a statement posted on his X account (previously known as Twitter) on Wednesday, the former governor of Anambra State expressed his belief that a truly equitable and just New Nigeria is attainable if the judiciary embraces the essence and call for change.
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He extended his congratulations to Nigeria for its triumph in the $11 billion Process & Industrial Developments (P&ID) Limited arbitration case. The recent ruling by Justice Robin Knowles of the Commercial Courts of England and Wales halted the enforcement of the award initially in favor of P&ID, as it was determined to have been obtained through fraudulent means.
In response to the judgment, Obi applauded the nation for its success.
“Thankfully, the case was decided in the United Kingdom, a nation known for its respect for the rule of law and where the judiciary delivers justice freely and fairly to the people. This, therefore, offers veritable
lessons to Nigerians in general, and our judiciary in particular,” he wrote
"Every lawful society is built on a strong system of justice and every democratic society exists on the principle of the rule of law. In handling the identity crisis, electoral disputes, and many high corruption cases that have bedeviled our nation, the judiciary has a bounding duty to protect our dear nation’s value system.
“Nigeria won its bid to overturn an $11 billion damages bill involving the controversial P&ID deal, yet similar, or even greater amounts, have gone unaccounted for in Nigeria, and the culprits are freely walking the streets.
“I urge our public office holders, in different arms of government, to understand that we have no other nation but Nigeria and we all are bound to work together for the development of our nation.
“As we have gladly received justice in a foreign land, may we learn to give justice to our countrymen so that our nation can enjoy peace, progress, and unity. A truly just and fair New Nigeria is possible if our judiciary embraces the spirit and message of change.”
In January 2010, P&ID entered into a Gas Supply and Processing Agreement (GSPA) with Nigeria for the development of a processing plant in Calabar, the capital of Cross River State. However, the agreement collapsed in August 2012. Subsequently, P&ID sought a compensation of $5.96 billion from Nigeria, initiating arbitration proceedings at the London Court of International Arbitration.
In January 2017, the arbitration ruled that Nigeria had breached the contract and directed the country to pay P&ID $6.6 billion in damages, along with interest accruing from May 2013. By the time of the verdict, the interest, set at seven percent (equivalent to $1 million daily), had accumulated to over $11 billion.
against the enforcement of the award. In September 2020, the court granted Nigeria’s request for relief. The Nigerian side argued that there was substantial evidence indicating that both the contract and the arbitration award had been obtained through fraudulent means.
Consequently, Nigeria implored the court to nullify the award, citing ongoing trials related to money laundering and corruption involving some individuals in the case.
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