•May get away with 20% of external reserves, 2.5% GDP
•My hands are clean, says Jonathan
Alike Ejiofor and Obinna Chima
The several months late President Umaru Yar’Adua spent on the sick bed prior to his demise on May 5, 2010, paved the way for Process & Industrial Developments Limited (P&ID), a tiny natural gas company to hoodwink the federal government into allegedly signing a gas supply and processing agreement (GSPA) which may cost the country a whopping $9 billion following last week’s British Commercial Court ruling, THISDAY findings have shown.
If the judgment is executed and the aforementioned amount is to be paid, the UK firm might walk away with 20 per cent of Nigeria’s external reserves, which stood at $44.425 billion as of last Thursday, and 2.5 per cent of Nigeria’s Gross Domestic Product (GDP).
This is just as former President Goodluck Jonathan has washed his hands of the matter, saying that the controversial contract was signed…
Source: Thisday Newspaper
