The federal government has said it is ready to negotiate with British firm, Process and Industrial Developments Limited (P&ID) over the nine point six billion dollars recently granted to the company against Nigeria by a London court.
Minister of Information and Culture, Lai Mohammed said the government is aware of the consequences such payment would have on the economy and is ready to find a way out.
The minister said quote “We’re leaving no stone un-turned to resolve this matter. We are ready to sit down with them and negotiate what is reasonable to all parties. You don’t inflict this kind of injury on a country and its people”, end quote.
A London judge recently granted P&ID right to seize $9bn in assets from Nigerian government over the country’s failure to comply with contractual obligations to build a gas processing plant in Calabar.
The federal government will also appeal the judgment with its best lawyers employed to fight the case.
