Region: Nigeria

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

A US appeals court has found partly in favour of ExxonMobil and Shell in a long-running fight with Nigeria’s national oil company over a US$2.7 billion award rendered a decade ago – as a separate dispute erupts over the proposed US$1.3 billion sale of one of the west African state’s largest oil producers.

11 July 2022

A Nigerian energy company is pursuing a US$272 million claim against a subsidiary of Italian multinational Eni over a joint venture in the Niger Delta that has reportedly spawned a US$2.2 billion counterclaim.

05 July 2022

Practitioners in Nigeria are celebrating after the country passed a new arbitration and mediation law including new provisions on arbitrator immunity, interim measures and third-party funding.

16 May 2022