The Chinese company, Zhongshan, whose export processing zone management contract was revoked by the Ogun State government in 2016, has expressed its willingness to settle its ongoing dispute with the Nigerian government.
According to a report by Zhongshan issued a statement on Thursday, August 15, 2024, emphasizing its confidence in the legal process and the arbitral ruling that was in its favor.
The statement reads, “Zhongshan has only ever sought to assert its rights under international law and is confident in its case.
The independent arbitral panel found unanimously in its favor, and courts in multiple countries have upheld the view that the panel’s compensation should be enforced. The French court was fully aware of the facts when it reached its decision.”
The company also underscored the international significance of the Ogun Free Trade Zone, which has been recognized by the Economist Intelligence Unit as a key global investment hub.
Zhongshan reiterated its willingness to engage in serious negotiations with the Nigerian government to reach a settlement but noted that it is still awaiting a positive response from the authorities.
Recall that a French court authorized the seizure of three presidential jets linked to the Nigerian government.
The court’s decision is part of enforcement efforts to ensure that Zhongshan receives the $74.5 million in compensation awarded by the arbitration panel.
Legal papers have been served by bailiffs, preventing the movement, sale, or purchase of the jets until the compensation is paid.
Reacting to the court’s decision, the Special Adviser to the President on Information and Strategy, Bayo Onanuga, described the French court’s order as an “arm-twisting tactic” by the Chinese company.
He claimed that Zhongshan had misled the French court by withholding vital information.
Onanuga further explained that the presidential jets were in France for routine maintenance when the court order was issued, arguing that as sovereign assets, they are protected by diplomatic immunity and should not be subject to foreign court rulings.
Onanuga also mentioned that both the Federal and Ogun State governments have made efforts to resolve the matter, but the dispute remains ongoing.
