outsmarted

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 …