ABUJA — The Federal Government has recovered a total of $210 million in connection with its long-standing legal battle with Process and Industrial Development (P&ID) Limited over a failed gas contract, Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, announced on Thursday.
Speaking after receiving the legal team that represented Nigeria in the United Kingdom, Fagbemi disclosed that the recovered sum includes $200 million initially deposited by the government as bond and an additional $10 million awarded in Nigeria’s favour following its legal victory.
The bond had been placed with the court as Nigeria defended itself against a $11 billion damages claim filed by P&ID over the collapsed gas supply and processing agreement.
“The whole country has celebrated our success in the P&ID case and applauded my resilience and determination not to negotiate or settle with the fraudsters,” Fagbemi stated. “But many do not know that my strength was derived from the dedication and uprightness of the FGN-P&ID coordinating team, led by Kofo Salam-Alada, who gave me the necessary support.”
He extended special appreciation to Shaistah Akhtar, head of the legal delegation, and Salam-Alada, a former Director of Legal in the Ministry of Justice, for their roles in securing Nigeria’s victory. He also used the occasion to wish Salam-Alada a happy retirement.
Akhtar, speaking during the visit, explained that the $10 million already received was part of a $20 million award granted to Nigeria. However, she noted that the remaining $10 million is currently being contested by P&ID in a separate legal challenge.
She also revealed that the P&ID case forms part of the 14 percent of international arbitration awards that have been successfully overturned—a rare feat in global litigation.
The case had drawn widespread attention due to the size of the original award and the implications for Nigeria’s finances. The recovery marks a significant legal and financial victory for the country.
