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.