Nigeria Saves Over N4bn in Legal Victory Over 1981 Ajaokuta Steel Contract
The Nigerian government has emerged victorious in an arbitration case related to a 1981 civil work contract for the Ajaokuta Iron and Steel Complex. The dispute with Fougerolle Nigeria Ltd, a French firm, sought a payment of N4 billion, which the tribunal ruled against.
The government's successful defense, led by Lateef Fagbemi, highlighted adherence to contract terms and previous settlements, ultimately saving Nigeria N4 billion.
Plus234Feed summary based on reporting from News Online Nigeria. Read the original report below.
Read full article
Continue on News Online Nigeria
Share
Get the week in one email
Top stories, NPFL results, the naira — every Friday morning. Free, one email a week.
Free · one email per week · unsubscribe anytime
Related Stories
Politics
AGF Celebrates Victory in N4bn, €185m Arbitration Against Fougerol SA
Business
FG and Stellar Steel Company Sign $400 Million Deal for Ogun Steel Plant
Business
Nigeria Signs $400m Deal with Chinese Firm to Revive Steel Industry, Create 22,000 Jobs
Politics
UK Supreme Court Upholds £44m Costs Award in Favor of Nigeria Against P&ID
Business
Nigeria Seeks Chinese Partnership to Revive Ajaokuta Steel Company and NIOMCO
Politics
Supreme Court Clears Way for Trial Resumption in $1.04m Fraud Case
Get Plus234Feed on messaging apps
Same headlines, delivered where you already scroll.
