Upturning The $9.6 Billion Arbitral Award Granted P&ID

INTRODUCTION

1.0 A BREWING STORM

1.1 A little storm has been brewing since the $9.6 billion arbitral award against Nigeria in favour of P&ID. The processes leading up to the GSPA agreement subject of the award have been intensively reviewed by the EFCC and by various committees of the present government. New facts suggesting acts of fraud by agents of both parties in the course of negotiations and bureaucratic processes leading up to the GSPA emerge daily. The Nigerian government has made it clear that it would not submit to the attachment of its international assets in satisfaction of that judgement without a fight. President Buhari was emphatic when he used the word "fraud" to characterize the GSPA agreement in his address at the 74th Session of the United Nations General Assembly held in New York.