The legal battle involves the Ministry of Petroleum Resources and by extension the Federal Government of Nigeria and the United Kingdom firm known as Process and Industrial Development Limited, herein after referred to as the P&ID.
Then, in January 2010 the Ministry of Petroleum Resources, acting on behalf of the Federal Government of Nigeria executed a gas supply processing agreement with P&ID.
Really, the P&ID had an obligation to process the wet gas and deliver the derivative to the Federal Government free of charge for power generation while taking any other residual liquid itself at no cost.
Now, Nigeria is raising the alarm that the UK court’s decision converted the subsequent arbitrary award into a domestic judgement against the Federal Republic of Nigeria.
Nigeria’s assets around the world, particularly in the United Kingdom and the United States of America risked being taken over by P&ID orbits agents
Interestingly, the present party in power, APC is saying the issues arising from the default aforesaid as well as the consequential arbitration, court proceedings and the ensuing award against Nigeria were concealed from the Senate and the entire National Assembly, and Nigerians, by PDP government.