Olanrewaju Joseph (SIWES student,OSCOTECH)
On Sunday, former President Muhammadu Buhari expressed that Nigeria would have faced a $15 billion loss had it not won the case against the international company, Process & Industrial Development Limited.
He regretted that this substantial financial setback could have been utilized to fund vital infrastructure projects.
This situation stemmed from a 2010 agreement between P&ID and the Federal Government, where the firm had committed to constructing a gas processing plant in Nigeria.
Regrettably, the project never came to fruition, leading P&ID to file a lawsuit to claim lost profits.
Eventually, the firm was awarded a substantial sum, including accumulated interest, which became a subject of dispute.
