British court awards Nigeria more time to appeal $10 bln arbitration case

A British court awarded Nigeria more time to appeal a $10 billion arbitration case with the company Process & Industrial Developments (P&ID).

P&ID won a $6.6 billion arbitration award after a 2010 deal to carry out a gas project in Nigeria collapsed. The award has been accruing interest since 2013 and is now worth nearly $10 billion.