The Independent Uganda: You get the Truth we Pay the Price
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The $9.6 billion appears to be the largest amount of damages awarded against Nigeria to date. Evidence however suggests this is not the first time that Nigeria has failed to meet its contractual obligations. In 2016 it was reported that investors in Nigeria’s power sector threatened to pull out due to the government’s failure to meet its contractual obligations.
This case also demonstrates an ongoing issue with the government’s attitude to critical infrastructural projects. The Mambilla hydroelectric power project is a case in point. In spite of the huge potential offered by the project, it has been plagued by several controversies ranging from corruption and embezzlement of funds to the “irregular” awarding of contracts, and a general lack of political will.
The Nigerian government is yet to pay the judgement debt. Allegations of domestic and international conspiracy surrounding the agreement continue to abound. For now, the government has said that it intends to appeal the amount awarded.
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Oludara Akanmidu is a Lecturer in Law, De Montfort University
Source:theconversation
