Region: Nigeria

Eni has won a final anti-suit injunction in the UK against its local partner in a Nigerian oil block following a US$200 million ICC arbitration – as three NGOs are permitted to weigh in on corruption issues in an unrelated ICSID case.

08 March 2023

The Commercial Court in London has upheld the recognition of an UNCITRAL award against Nigeria issued six years ago in a dispute over a US$200 million power privatisation.

06 March 2023

A US court has rejected Nigeria’s jurisdictional objections to the enforcement of a US$70 million investment treaty award won by a Chinese investor over a joint venture to develop a free trade zone, dismissing the state’s arguments based on sovereign immunity.

30 January 2023

Nigeria is fighting to set aside an arbitral award requiring it to pay US$11 billion to an offshore company with arguments that the award and underlying contract were secured through “industrial scale” bribery of Nigerian government officials and lawyers representing the state in the arbitration.

27 January 2023

A London court has upheld a pair of awards against a Nigerian oil and gas producer in an ICC dispute over loans worth US$2 billion, ruling that a Shell subsidiary had not waived its unilateral option to bring an arbitration.

23 November 2022

Burford Capital is funding an ICC claim against Nigeria reportedly worth US$400 million arising from the purported settlement of a prior arbitration over a hydropower project.

27 September 2022

More details have emerged about a multibillion-dollar ICC dispute that is said to have paralysed Nigeria’s steel industry for 14 years before the parties agreed to settle for a significantly reduced sum.

09 September 2022

Nigeria has agreed to pay US$496 million to a company owned by India’s Mittal family to settle a 14-year dispute potentially worth billions over a contract to upgrade the country’s steel plants.

05 September 2022

The Nigerian National Petroleum Corporation has settled long-running disputes with several international oil companies that led to hefty awards against the state-owned entity.

23 August 2022

A consortium of investors in an electricity distributor in Nigeria has reportedly threatened to take the country’s privatisation agency to arbitration in the UK, accusing it of facilitating a forced takeover of the utility by a local lender.

19 July 2022