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P&ID: Nigeria Recovers $200m, $10m Bond from UK

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By Adedapo Adesanya

The federal government has recovered the sum of $200 million and another $10 million award it deposited as a bond in a UK court towards its defence of the $11 billion arbitrary award to Process and Industrial Development (P&ID) Limited.

This was disclosed by the Attorney-General of the Federation and Minister of Justice (AGF), Mr Lateef Fagbemi (SAN) during a visit by a team of lawyers who defended the country in the UK to the Ministry led by Ms Shaistah Akhtar.

He commended the efforts of Ms Akhtar and a former Director of Legal in the ministry, Mr Kofo Salam-Alada, in the legal victory and recovery of funds to the federal government.

“The whole country has celebrated our success in the Process & Industrial Developments Ltd (P&ID) case and applauded my resilience and determination not to negotiate or settle with the fraudsters but many do not know that my strength was derived from dedicated and uprightness of the FGN-P&ID coordinating team which was led by Kofo Salam-Alada who gave me the necessary support.”

Mr Fagbemi also wished Ms Salam-Alada happy retirement from the service, saying “So, it is personally disheartening for me to bid Kofo farewell from the public service career, but I have taken solace in the fact that a golden fish has no hiding place and it therefore certain that the country will continue to beckon on him for the benefit of all Nigerians.”

On her part, Ms Akthar, who was accompanied by Ms Lydia Allaby, explained that the $10 million paid was to Nigeria from the $20 million awarded in favour of Nigeria after P&ID lost the case.

She, however, added that the outstanding $10m is a subject of legal challenge by the firm.

She noted that the Nigerian case was among the only 14 per cent of successful challenges against arbitral award cases.

A Court of Appeal in the UK had dismissed the appeal of P&ID, on a previous judgment halting the enforcement of its $11 billion award against Nigeria.

In a unanimous decision, Lord Justice Snowden, the lead judge, permitted P&ID to appeal the judgment but dismissed the appeal.

The two other judges are Lord Justice Fraser and Julian Flaux.

P&ID had entered into a deal in 2010 to build a gas processing plant in Calabar, Cross River State but the company said the agreement collapsed because the Nigerian government did not fulfil its end of the bargain.

The Nigerian government alleged that the gas deal was a scam conceived to defraud the country.

But P&ID denied the allegation and accused the Nigerian government of “false allegations and wild conspiracy theories”.

Consequently, P&ID took legal recourse and secured an arbitral award against the country.

On January 31, 2017, a tribunal ruled that Nigeria should pay P&ID $6.6 billion as damages, as well as pre and post-judgment interest at seven per cent, which later amounted to $11 billion.

In October 2023, Robin Knowles, justice of the commercial courts of England and Wales, halted the enforcement of the award by upholding Nigeria’s prayer that it was obtained by fraud and in violation of section 68 of the English Arbitration Act 1996.

The judge found that P&ID paid bribes to Nigerian officials involved in the drafting of the gas supply and processing agreement, GSPA, in 2010.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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MOFI, Niger State to Drive Scalable Inclusive Growth Framework

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By Adedapo Adesanya

The Ministry of Finance Incorporated (MOFI) and the Niger State Government have signed a landmark Memorandum of Understanding (MoU) to pilot the Sustainable Integrated Productive Communities (SIPC) programme and enterprise development into a single, scalable framework for inclusive growth.

The MoU was signed at the Federal Ministry of Finance, Abuja.

Speaking at the ceremony, the Minister of State for Finance, Mrs Doris Uzoka-Anite, described the agreement as a moment of delivery rather than a ceremonial exercise, noting that the SIPC Programme demonstrates how national priorities can be translated into tangible outcomes through strong federal-state collaboration.

“This partnership reflects our belief that development works best when housing, agriculture, finance, and governance move together. By anchoring farmers in secure, well-planned communities, we are not just building houses. We are strengthening livelihoods, food security, and long-term prosperity,” she said.

Under the programme, Niger State will host the pilot phase of integrated farming and housing estates designed to provide farmers with secure settlements located close to agricultural production zones, storage, processing facilities, and markets.

The model directly addresses long-standing challenges such as insecure rural settlements, rural-urban migration, post-harvest losses, and limited youth participation in agriculture.

On his part, Mr Mohammed Umaru Bago, Executive Governor of Niger State, reaffirmed the state’s commitment to the initiative, highlighting the availability of extensive arable land, water resources and supporting infrastructure.

He emphasized that the programme would also contribute to improved security, climate resilience, and the orderly development of rural communities while creating viable economic opportunities for farming households.

The SIPC Programme adopts an innovative financing structure that blends public land and assets with private investment, allowing the government to focus on policy, coordination, and oversight while leveraging private-sector efficiency and scale. MOFI’s role is central to this approach, ensuring transparency, sustainability, and shared risk across partners.

Key federal agencies participating in the initiative include Family Homes Funds Limited, the Rural Electrification Agency, and Niger Foods Limited, each contributing sector-specific expertise spanning affordable housing delivery, renewable energy solutions and agricultural value chain development. Renewable energy, particularly solar-powered community infrastructure and mini-grids, will underpin agro-processing, storage, and household energy needs, reducing costs and enhancing productivity.

Beyond agriculture, the programme is expected to stimulate broad-based economic activity through construction, logistics, agro-processing and community services, creating jobs for engineers, artisans, builders and suppliers, while supporting local industries such as cement, steel and transportation.

The settlements are explicitly designed to be affordable and functional, with transparent allocation mechanisms and governance structures to ensure access for farmers and low – to middle-income earners.

The signing of the MoU sends a clear signal to developers, financial institutions, pension funds, agribusiness investors and development partners that Niger State, working in alignment with the Federal Ministry of Finance and MOFI, is open to credible, impact-driven investment. The SIPC framework is intended to serve as a replicable national model for integrated rural and peri-urban development.

The Federal Ministry of Finance also reaffirmed its commitment to ensuring that the agreement moves swiftly from signing to execution, with close coordination among all stakeholders to deliver measurable outcomes on housing, food security, employment and inclusive economic growth.

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US Suspends Immigrants Visa for Nigerians, 74 Others

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By Adedapo Adesanya

Nigeria is among 75 countries the US government will suspend the processing of immigrant visas for its citizens.

According to the US State Department, the citizens of the 75 countries are those whose nationals are deemed likely to require public assistance while living in the United States.

The State Department, led by Secretary Marco Rubio, said it had instructed consular officers to halt immigrant visa applications from the countries affected in accordance with a broader order issued in November that tightened rules around potential immigrants who might become “public charges” in the US.

Business Post gathered that alongside Nigeria are Afghanistan, Albania, Algeria, Antigua and Barbuda, Armenia, Azerbaijan, Bahamas, Bangladesh, Barbados, Belarus, Belize, Bhutan, Bosnia, Brazil, Burma, Cambodia, Cameroon, Cape Verde, Colombia, Cote d’Ivoire, Cuba, Democratic Republic of the Congo, and Dominica.

Others include Egypt, Eritrea, Ethiopia, Fiji, Gambia, Georgia, Ghana, Grenada, Guatemala, Guinea, Haiti, Iran, Iraq, Jamaica, Jordan, Kazakhstan, Kosovo, Kuwait, Kyrgyzstan, Laos, Lebanon, Liberia, Libya, Macedonia, Moldova, Mongolia, Montenegro, Morocco, Nepal, Nicaragua, Pakistan, Republic of the Congo, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Senegal, Sierra Leone, Somalia, South Sudan, Sudan, Syria, Tanzania, Thailand, Togo, Tunisia, Uganda, Uruguay, Uzbekistan, and Yemen.

The suspension, which will begin on January 21, will not apply to applicants seeking non-immigrant visas, or temporary tourist or business visas.

“The Trump administration is bringing an end to the abuse of America’s immigration system by those who would extract wealth from the American people,” the department said in a statement.

“Immigrant visa processing from these 75 countries will be paused while the State Department reassess immigration processing procedures to prevent the entry of foreign nationals who would take welfare and public benefits.”

President Donald Trump’s administration has already severely restricted immigrant and non-immigrant visa processing for citizens of dozens of countries, many of them in Africa.

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Nigeria Hires $9m American Lobby Firm to Counter Christian Genocide Claims

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By Adedapo Adesanya

Nigeria has reportedly engaged the services of a Washington-based lobbying firm, DCI Group, in a $9 million contract aimed at communicating its efforts to protect Christians in Nigeria to the United States government.

According to The Africa Report, the amount appears to be a record for African lobbying in the US capital, citing documents filed with the US Department of Justice by Aster Legal, a Kaduna-based law firm, acting on behalf of National Security Adviser (NSA), Mr Nuhu Ribadu.

The agreement, signed on December 17, 2025, between Mr Oyetunji Olalekan Teslim, Managing Partner of Aster Legal, and Mr Justin Peterson, Managing Member of DCI Group, authorises the US firm to assist the Nigerian government “in communicating its actions to protect Nigerian Christian communities and maintaining US support in countering West African jihadist groups and other destabilizing elements.”

Under the terms of the contract, DCI Group will receive $750,000 monthly, amounting to $9 million over 12 months. The deal runs initially for six months, until June 30, 2026, with an automatic renewal clause for another six-month period.

A clause in the agreement also allowed either party to terminate the deal “for any reason without penalty” by giving 60 days’ advance written notice.

It was reported that on December 12, 2025, Nigeria paid DCI Group 50 per cent or $4.5 million prepayment covering the first six months of the retainership agreement. A second installment is due at the end of the initial contract period.

This comes amid recent threats by US President Donald Trump to invade the country after its redesignation of Nigeria as a “country of particular concern,” citing alleged attacks against Christian communities. However, the Nigerian government has repeatedly denied claims of a Christian genocide, insisting that violence in the country affects all regardless of their affiliations.

Following an engagement late last year, the federal government pledged to “engage with the American government through diplomatic and legal channels” to address the allegations. Since late November, the US has been conducting intelligence-gathering flights over large parts of Nigeria.

On Christmas Day, the US military launched airstrikes against Islamic State (IS) terrorist enclaves in Bauni Forest, Tangaza Local Government Area of Sokoto State, marking a significant escalation in US counterterrorism involvement in Nigeria.

On Tuesday, the US delivered critical military supplies to Nigeria to bolster the country’s operations, the US military’s Africa Command (AFRICOM) said.

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