Arbitration commenced in August 2012, after P&ID tried in vain to persuade the Nigerian government to honor the deal for more than two years. These efforts included the exploration of possible adjustments to the Agreement, which P&ID was prepared to accept. Since the commencement of the arbitration, P&ID has repeatedly made clear to Nigerian leadership that it is open to a reasonable settlement offer, and Nigeria’s leaders have repeatedly failed to make one. Even after the arbitration tribunal ruled in favor of P&ID, the Buhari administration would not pay the award or make a reasonable settlement offer. As a result, P&ID now is asking the U.S. and U.K. courts for permission to enforce the award.
P&ID Facts > FAQs > Why did P&ID pursue arbitration, as well as pursuing legal action in the U.K and U.S. courts, instead of reaching an amicable settlement with the Nigerian government?