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Court Awards Nigeria 20 Pounds Against P&ID

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Nigeria has recorded a fresh legal victory over the Irish firm, Process & Industrial Developments (P&ID), after a London court awarded £20 million in damages and compensation in favour of the federal government.

Court Awards Nigeria 20 Pounds Against P&ID

Justice Robin Knowles of the Business and Property Court of England and Wales directed the firm to pay, within 28 days, the costs which Nigeria applied for to defray its legal fees.

The court had, on October 23,upturned an $11 billion judgment debt which P & ID wanted enforced against Nigeria.

In his final pronouncement on the case on Friday, Knowles rejected a proposal by the firm to pay the costs in Naira.

He also dismissed in its entirety the judgement debt which had been awarded against Nigeria by an arbitration tribunal.

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Counsel to Nigeria, invoking the common law principle of “fraud unravels all” had argued that the award be set aside in its entirety.

However, P & ID applied to the court to appeal the October judgement.

The tribunal first issued a $6.6billion arbitration award against Nigeria in January 2017 after the firm accused the Federal Government of reneging on an alleged 2010 contract with the Ministry of Petroleum Resources to construct and operate a new gas processing facility in Calabar.

The award, according to P&ID lawyers claim, had grown to $11.4 billion on account of interest.

Nigeria subsequently approached the Business and Property Court praying it to dismiss the award.

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The court upheld Nigeria’s prayers and said the firm actually paid Nigerian officials to draft the contract agreement.

It also found that P&ID was illegally in possession of Nigeria’s privileged legal documents during the arbitration hearings.

Nigeria was able to provide the court with banking records from New York showing fund transfers to Nigerian government officials by entities allegedly affiliated with P&ID, as well as evidence of large, unexplained cash withdrawals from a P&ID affiliated entity’s Nigerian bank account around the time the contract was signed.

Nigeria, according to the terms of the purported contract, was to supply natural gas at no cost to P&ID’s facility while the company would construct and operate the facility.

The company was to process the gas for the purpose of removing natural gas liquids and return lean gas to Nigeria at no cost.

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The understanding was that the lean gas so supplied would be suitable for use in power generation and other purposes.

Nigeria insisted that the contract was based on an unsolicited proposal presented by P&ID.

It also said no tender was conducted in respect of the project and the company even had no experience or assets in the gas sector to handle a contract of that magnitude.

 

 

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Atte, Nigerian Develops AI Algorithm for Hair Transplants

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Atte Ayodeji, a Nigerian computer scientist,has developed an artificial intelligence algorithm capable of detecting, counting, grouping and generating healthy hair follicles during hair transplant procedures, an innovation that earned him the Best Innovative Technology award.

Atte, Nigerian Develops AI Algorithm for Hair Transplants

Atte Ayodeji

Ayodeji also graduated with a Distinction in his Master of Science (MSc) in Computer Science from Birmingham City University on Friday, adding another milestone to an impressive academic year.

Beyond his award-winning hair transplant innovation, the Nigerian researcher developed a system and framework on Explainable Artificial Intelligence (XAI) as a professional responsibility in the diagnosis of lung cancer.

His dissertation received a silver award at the PGXPO2026 Winter, further highlighting the impact of his research in applying artificial intelligence to healthcare.

Sunday Dare, special adviser on Media and Public Communication to President Tinubu,  celebrated Ayodeji’s achievements in a post on X, recalling how he first met him in 2019 during his National Youth Service.

“In 2019 when I became a Minister of the Republic, I met a young man of medium height, genteel with penetrating eyes: Atte Ayodeji. His words rarely come out and he could easily be passed by unnoticed. But I noticed him especially when my SA Kemi Areola brought him to me asking my approval for him to do his Youth Service in my office. I approved. From then on he was unstoppable. His brilliance shown and he developed skills beyond his frame.”

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Highlighting Ayodeji’s recent accomplishments, Dare congratulated him saying, “Congratulations Atte. I am proud of you!”

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FG to Abolish Subsidies in Power Sector in 2027 – Minister

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Mr. Joseph Tegbe, minister of Power, has said that the federal government plans to end power sector subsidies from 2027 and that there are no immediate plans for tariff increases.

FG to Abolish Subsidies in Power Sector in 2027 – Minister

Mr. Joseph Tegbe, minister of Power

The minister told journalists during the media interactive session at the weekend that the government has announced plans to phase out electricity subsidy payments from 2027 as part of efforts to address mounting liabilities in the power sector.

He explained that the planned removal forms part of the broader reforms aimed at ensuring the long-term sustainability of the electricity sector, while tackling the financial challenges confronting the industry.

According to the minister, despite the planned subsidy withdrawal, there are no immediate plans to increase electricity tariffs, reassuring consumers that the government is not considering a tariff hike in the short term.


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AfCFTA Urges Africa to Stop Exporting Raw Materials

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Patience Okala, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office has urged African countries to stop exporting raw materials and instead focus on adding value to its natural resources if it is to fully harness the opportunities offered by the African Continental Free Trade Area.

She stated this on Thursday at the Streamsowers & Köhn 20th Anniversary Business Forum, where she stressed that value addition and beneficiation are essential to Africa’s industrialisation and long-term economic growth.

According to a statement issued on Friday by the Nigeria AfCFTA Coordination Office, she said the AfCFTA goes beyond the elimination of tariffs, serving as a framework for industrialisation, value addition, and job creation across the continent.

“AfCFTA is not only about tariffs; it is also about value addition. Africa has to stop exporting raw materials. We need to add value and ensure that beneficiation is done on the continent,” she said.

Okala also said Africa’s economic transformation would depend on the effective implementation of the AfCFTA rather than on the signing of trade agreements alone.

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“We have moved beyond negotiations. The success of AfCFTA will be measured by the extent to which businesses can access new markets, trade seamlessly across borders, and benefit from the opportunities created by the agreement,” she said.

She noted that Nigeria had intensified efforts to implement the agreement under the leadership of the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, including the development of simplified AfCFTA guides in six languages to help businesses understand and take advantage of opportunities under the trade pact.

Okala called for stronger collaboration among governments, regulators, and the private sector to eliminate barriers to trade and investment and build a truly integrated African market.

“As we move from policy to implementation, our collective responsibility is to ensure that the opportunities created by AfCFTA become practical realities for businesses, particularly MSMEs, women-owned enterprises, and young entrepreneurs across the continent,” she said.

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