There are indications that Nigeria has commenced the process for a negotiated settlement with Process and Industrial Developments Ltd. P&ID as the country continues to explore ways out of the $9.6 billion debt awarded against it.
BusinessDay gathered that officials of the company attended a meeting at the Presidential Villa on Monday.
BusinessDay sources hinted that the company’s representatives were seen leaving the Vice President’s office after the meeting but refused to speak with the press.
However, the Senior Special Assistant to the President on Media and Publicity, office of the Vice President, Laolu Akande denied that P&ID officials attended the meeting.
Akande, in a statement posted on the platform of the State House Press denied that the company’s representatives were at the Presidential Villa.
“I have seen some reports purporting that P&ID representatives attended a meeting in the Vice President’s office this afternoon. No such thing happened. There were NO P&ID REPRESENTATIVES in any shape or form near the Villa.”
The Vice President had on Monday met behind closed doors with relevant government officials including Justice Minister, Abubakar Malami and others, where the government received reports of its team set up to advise it on the issue, where the officials of the company were sighted.
Recall that a UK court ruling which authorized an Irish engineering and project management company, Process and Industrial Developments Ltd. (P&ID) to seize $9.6 billion in Nigerian assets over the failed contract, had sparked off reactions, forcing the government to institute action into the matter.
BusinessDay Villa sources revealed that the interim report was submitted to Vice President Yemi Osinbajo who presided over the meeting
The team refused to comment of their recommendations as they are still being studied by the Federal government which is expected to come up with final resolution soon, our sources said.
President Buhari had directed a select team including the Economic and Financial Crimes Commission EFCC and other relevant anti-graft agencies to study the judgement and advise it on the next line of action.
Monday’s meeting which was also attended by the officials of the EFCC, was in continuation of government’s effort to find out the best way to get the country out of the quagmire created by the judgement
BusinessDay also gathered that federal government is worried over the rising judgement debts which is moving close to N4trillion, including the N3.5trillion to P&ID, and another N132b owed BiCourtney.
The matter is said to be worrisome as relevant government agencies, including the Infrastructure Concessions and Regulations Commission and the Bureau of Public Procurement, BPP claimed ignorance of the award of the contract.
Segun Imohiosen of the BPP had in a telephone interview, simply declared that the “organization was not in the picture of the contract”
The meeting was attended by the Minister of Finance, Budget and National planning, Zainab Ahmed, Minister of Justice, Abubakar Malami, Minister of Information, Lai Mohammed, the Minister of State for Petroleum, Timipre Silva.
Others are the Minister of State for Niger Delta Affairs, Festus Keyamo, Group Managing Director of NNPC, Melee Kyari,
Also at the meeting are the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, and the Governor of the Central Bank of Nigeria, Godwin Emefiele.
Members of some civil society groups also embarked on protest in Abuja on Monday condemning the judgement.
Tony Ailemen, Abuja
