Nigeria saves $5.05bn as NNPC legal team wins four court cases

Nigeria saves $5.05bn as NNPC legal team wins four court cases

The Nigerian National Petroleum Corporation, NNPC, Wednesday, stated that its legal team won four court cases that saved the country N5.05 billion.

In a statement in Abuja, Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, stated that as a result of these victories, the corporation’s legal team won the ‘Leading Case Counsel Team’ of the 2020 Africa Arbitration Awards. He stated that the court cases were centred on disputes around oil wells and export terminals.

Obateru listed the successful arbitration cases showcased by the NNPC Legal Team at the conference to include the IPCO (Nigeria) versus NNPC legal tussle, in respect of the dispute over the Bonny Export Terminal Project in which $367.5 million was saved after 13 years of litigation.

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Source: SweetCrudeReports

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