$9.6bn deal: FG vows to probe controversial P&ID contract

Federal Government has vowed to go ahead and probe the gas pipeline deal between previous administration and an Irish firm, Process and Industrial Developments Limited (P&ID), which triggered the decision of a United Kingdom court to ask the company to seize $9.6bn in Nigerian assets.

Minister of Information and Culture, Alhaji Lai Mohammed, made this known on Tuesday in a meeting with newsmen in Abuja.

The Minister, who insisted that the judgement, which the government has described as dubious, would not stand the tests of morality and law, said the probe was an apt decision because of government’s strong belief that the controversial contract was characterized by underhand dealings.

He said, “How can people come to Nigeria with portfolio, and walk away with about 20 per cent of our entire foreign reserve?

“We believe that, both in terms of morality and law, we are confident that we will upturn the judgment.

“It is important to know that the government has also ordered investigation into the transactions because there are strong indications that underhand things went on.”