A judge in the London High Court has ruled against an award which could have cost Nigeria US$15 billion, but the shadow of corruption in the affair remains
'Victory is claimed by all,' said Tacitus, a historian of ancient Rome, 'failure by one alone.' His point resonates with the 23 October verdict in the case of Nigeria versus Process & Industrial Development (P&ID), which seems to have been going on since the classical chronicler's days. President Bola Ahmed Tinubu
welcomed a verdict that forensically dismantled the grounds for an award against Nigeria, with interest, exceeding US$11 billion, a third of the country's reported foreign exchange reserves and more than it spends a year on health and education. Tinubu's predecessor, former President Muhammadu Buhari
, claims the ultimate cost to Nigeria could have reached US$15bn.
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