Nigeria's P&ID Arbitration Triumph: Lessons For International Dispute Resolution

Commercial transactions not only involve huge investments but also go a long way to determine the development of the economy. A great degree of skill and honesty is required in business dealings, particularly when dealing with international investors. This explains the reason international commercial arbitrations are frequently utilized in developed states as a dispute resolution method of choice in energy contracts and transactions involving huge capital and investments.¹

The Process and Industrial Developments Ltd v Federal Republic of Nigeria (P&ID) is instructive in this article. The issues in the case bordered on non-performance of contract, the seat of arbitration, and the effect of the enforcement of an arbitration award tainted with bribery, fraud, and corruption in the procurement of the contract.