The Presidency has criticised Priti Patel, former UK secretary of state for International Development, for advising investors to be cautious about doing business in Nigeria.
Patel, a member of UK parliament, had made her position known in a London business newspaper, City A.M.
She accused President Muhammadu Buhari of cancelling a “compensation settlement” after the Federal Government reneged on a Natural Gas Development refinery contract with Irish firm, Process and Industrial Development (P&ID).
The lawmaker also said that the FG flouts international law, refuses to respect court decisions, adding that “there has been no reduction in corruption since Buhari took office”.
Reacting in a statement on Tuesday, presidential spokesman, Garba Shehu, described Patel’s claims as a “wicked proposition” which is “lacking in substance and devoid of merit in empirical evidence established by facts”.
The statement read in part: “Her claim to the effect that despite the President’s public anti-corruption platform, Nigeria has not seen any reduction in corruption since Buhari took office, trumpeting a so-called Transparency International report is a false fabrication that cannot be supported by the facts on ground.
“By the time President Muhammadu Buhari was sworn-in and took office, the only amount in the anti-corruption recovery account over 16 years of the Peoples Democratic Party, PDP was only N2billion.
“This account has succeeded in netting over N400 billion as of today, translating to 1,360 per cent increase. This cannot amount to nothing in terms of progress, the statements reads.
It further stated that when it comes to policy decisions, the present administration has put in place instruments that have reduced corruption.
“The issue raised about the lack of security of investment is equally false and untenable. Nigeria has recognised the right of the investor, both local and foreign, as enshrined in our constitution which states clearly that no investment can be taken from its owners without recourse to the law. Given the constitution, you don’t even need international protection for assets held in this country.
“In addition to the constitution, there exist several laws allowing protection for investments. Beyond this, this administration has moved forward by recognising arbitration processes. The judiciary in the country has a Practice Code to give legitimacy to awards and arbitration clauses in agreements.
“Cumulatively, we have established a proper climate of investment on account of which, the nation has gained 24 points of excellence in the global ease of doing business index.
“As for the specific case of the agreement in 2010, between the NNPC and the P&ID for a 20-year contract to create a new natural gas development refinery, which appears to be her main issue, a project that fell through after a past Nigerian government reneged on its contractual commitments, we do not wish to plead the government’s case in the press.”
The statement added that the FG, in recognition of the sanctity of the judiciary, has submitted to the jurisdiction of a court in the United States to determine the issues in dispute.
“What we can only say at this point is that Nigerians need to pity their own country for the way things were done in the past.”
